Archive for the ‘Morbid symptoms’ Category

by Phil Duncan

With Winston Peters announcing that his New Zealand First party is going with Labour and not with National, it looks like the Tories are out and the Xenophobes are in. We’ll now have the two most xenophobic of the four main parties in coalition government (Labour and NZ First). Although the last Labour government was pretty racist in relation to immigration, a Labour-NZF coalition may well be the most xenophobic government since Muldoon in the late 1970s (and the pre-Muldoon Labour government which began the dawn raids on Pacific Islands immigrants).

Watch out immigrants, especially poor people who want to migrate here to make a better life for themselves!

While no-one is under any illusion about Winston Peters’ xenophobia, given that for the last several decades he has made a career out of anti-immigrant – especially anti-Asian immigrant – policies, the liberal left prefers to turn a blind eye to Labour’s anti-Asian racism.  In fact, much of the liberal or centre-left shares  (more…)

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Capitalism can turn almost anything to private profit for the rich minority.  Take the massive Greek debt and the misery of austerity imposed on the Greek masses:

by Michael Roberts

The announcement by the European Central Bank that it has so far made €7.8bn in profits from its holdings in Greek government debt reveals the true nature of the so-called bailouts of Greek government finances that the EU leaders organised in return for massive austerity measures from 2012 onwards.

Back in March 2012, five years ago, a so-called private sector involvement (PSI) deal was agreed under which French, German and Greek banks who held the bulk of Greek government bonds agreed to take a ‘haircut’ on the value of their bond holdings.  Under the PSI, they received in return new Greek government bonds with 30-year lives, paying about 3-4% a year in interest and guaranteed by the Eurozone financing operation, the EFSF.  And they also got some cash up front for turning (more…)

Theo Spierings: salary of $160,000 per week; $32,000 per ‘working’ day

by Don Franks

Not everyone admires the bloke but I believe Fonterra chief executive Theo Spierings is due some appreciation.

If we have eyes to see it, Theo’s done us a favour.

This kiwi dairy worker has jumped into the headlines, not for what he’s done or not done at the office but on account of the size of his pay packet. A total of $8.32 million in 2017, a 78.5 per cent increase  from last year.

Theo Spierings’ earnings are made up of a $2.46m base salary, superannuation benefits of $170,036, a short-term incentive payment of $1.832m and a long-term incentive payment of $3.855m, the co-operative’s latest annual report shows.

Twenty-three other Fonterra executives received up to $1m for their efforts, five of those have recently left the firm, possibly feeling a bit deprived at their loss of relativity.

So what favour has Theo Spierings done us New Zealanders who can’t afford as much cream and butter as we’d like to put on the table?

The Fonterra boss stands as a reminder of several important truths. A reminder that  (more…)

Bosses, not robots, lay off workers

The article below is taken from the French revolutionary workers’ journal Lutte de Classe (Class Struggle).  It was translated by members of the US revolutionary group The Spark.

French Socialist Party presidential candidate Benoît Hamon justified his proposal for a universal guaranteed income by citing the “inevitable disappearance of work.” Referencing the growing role of digital technology and robots, which he believes are going to cause the destruction “of hundreds of thousands of jobs in Western economies,” he also proposed to create a tax on robots. The deputies of the European Parliament, for their part, debated last January about the need to require businesses to “publish the extent and the share of the contributions of robotics… to their financial outcomes, for the purposes of taxation and determining the amount of their social security contributions” (Les Échos, January 13, 2017).

The idea that human labor will be replaced by machines and robots, and that we are heading toward the inevitable end of work, has recently come into fashion. Does this reflect reality or the ranting of pseudo-experts, good news for humanity or the chronicle of a catastrophe foretold? All of the discussions around this question make no sense if the heart of the matter is not taken into consideration: all of the means of production, which are set in motion in a social and collective manner through a vast international division of labor, remain the private property of a tiny minority of capitalists.

In order to justify their propositions, Hamon and the European deputies rely on a range of studies, such as one made by the think tank France Stratégie, according to which 3.4 million jobs in France are in danger of disappearing over the next ten years. In 2013, two researchers at the University of Oxford, Carl Benedikt Frey and Michael Osborne, maintained that 47% of U.S. jobs are at “high risk,” meaning that they “could be automated relatively soon, perhaps over the next decade or two.” They base their arguments on the progress that has apparently been achieved in the fields of robotics and machine learning, which would allow machines to carry out (more…)

Incinerating Hiroshima

by Don Franks

US President Donald Trump now threatens to “totally destroy” North Korea’s country of 26 million people.

This from the leader of the only power that ever used nuclear weapons.

Trump isn’t a one-off nutcase. He follows in the tradition of President Truman.

When the Japanese refused a US ultimatum to surrender unconditionally, Truman ordered the dropping of an atomic bomb on Hiroshima.  On August 6, announcing the dropping of the bomb, he again demanded Japan’s surrender, warning it to “expect a rain of ruin from the air, the like of which has never been seen on this earth.”

Three days later, on August 9 1945, a second atomic bomb was dropped, this time on Nagasaki.

Within the first two to four months following the bombings, the acute effects had killed (more…)

by Don Franks

I don’t care what anyone thinks, I’ve had enough of all the talk about child poverty.  Some of the talk is well-intentioned, but much of it’s actually bullshit

Phrases roll off the tongue but what does poverty mean in New Zealand today?

The Ministry of Social Development works from the level of income set at  60% of median household disposable income after housing costs. This is deemed a reasonable level to protect people from the worst effects of poverty.

Source: Stats NZ 2016

In these terms it’s calculated that the poverty line after deducting housing costs for a household with two adults and two children lies at $600 per week or $31,200 annually in 2016 dollars. For a sole parent with one child it is $385 per week or $20,200 annually in 2016 dollars. Inadequate amounts of money for a decent life and, by such reckoning, there are around 682,50 people in poverty in this country, or one in seven households.

New Zealand is a far more unequal country than it was a generation back. Over the past three decades, under both National- and Labour-led governments, New Zealand has gone from being one of the most equal to one of the most unequal nations in the wealthy OECD countries.  In those 30 years, incomes for the average of the top 10% income earners roughly doubled while lower and middle incomes barely increased. Let’s compare two reports, almost a decade apart.

The 2007 Statistics Department study Wealth and disparities in New Zealand revealed that the top 10% of wealthy New Zealand individuals owned over half of New Zealand’s total net worth, and nearly one fifth of total net worth was owned by the top one percent of wealthy individuals. At the halfway mark, the bottom half of the population collectively owned a mere 5 percent of total net worth.

The most recent available information is a 2016 Statistics Department study Household Net Worth Statistics: Year ended June 2015 (published 2016).  It reveals that the (more…)

A group of artists are continuing the conversation Metiria Turei MP started – demanding a more compassionate social welfare system. They asked artists who have been on a benefit in NZ (DPB, sickness, invalids, jobseeker, whatever) to draw a picture of themselves, and write a couple of sentences next to it about their experiences.
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Check out their messages https://www.facebook.com/WeAreBeneficiaries/