Home > The Body Politic > 14 June – Issues of Interest

14 June – Issues of Interest

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Looking at the pieces

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More shocks for Mighty River Power investors…

A sell-off by international investors is likely to be behind the weakness in Mighty River Power’s share price, say analysts.

The power company closed down 3c on $2.34 yesterday – 16c down from its $2.50 issue price and 39c off its opening trading price of $2.73.

The stock hit a low of $2.30 last Friday amid a decline across the New Zealand sharemarket and weakness in the New Zealand dollar.

James Smalley, a director at share-broker Hamilton Hindin Greene, said Contact Energy was also down which could signal selling was being driven by people’s outlook for the electricity sector and a slow reaction to the Labour/Greens plan for regulation. “The market takes a while to digest bad news.”

Acknowledgment: NZ Herald -Overseas investors sell up

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"Offshore buyers who didn't hedge will be making losses." Photo / Alan Gibson

“Offshore buyers who didn’t hedge will be making losses.” Photo / Alan Gibson

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Three things…

  • 1. There were many New Zealanders who opposed the part-privatisation of Mighty River Power – but bought shares on the premise that they wanted to keep as much ownership (and dividends) within the country. This is no bad thing; our balance of payments is getting worse (something National doesn’t refer to in any of it’s Press Releases).

This will eventually impact on our sovereign credit rating; followed by higher interest rates on money we borrow from offshore lenders; with consequences for higher mortgage rates.

Selling state assets is never a good idea. As dividends flow offshore, we eventually end up paying for it through our mortgages. (Something that National supporters who voted for Key in 2011 might reflect on when their interest rates start to rise next year.)

  • 2. Those New Zealanders who bought shares because they want to privatise the dividends from  SOEs, which our grandparents built up through their hard work and taxes – sucks to be you. I have zero sympathy for your losses. I hope you take a very, very, deep ‘bath’ with this investment.
  • 3. Note the part, “James Smalley, a director at share-broker Hamilton Hindin Greene, said Contact Energy was also down which could signal selling was being driven by people’s outlook for the electricity sector and a slow reaction to the Labour/Greens plan for regulation. “The market takes a while to digest bad news”.”

“Bad news”? I don’t think think so.

Labour and the Greens had few options to reflect the will of majority of New Zealanders who opposed asset sales. Coming up with the single-buyer desk – NZ Power – was a master-stroke of genius.

If, as Dear Leader said, this was “sabotage” then it was also sabotage that National plans to sell off the most profitable state owned enterprises for short-term gain. Such is their desperation to balance their books – especially after throwing away $2 billion per year  in tax revenue in 2010.

Anyone else think that privatising Meridian is such a flash idea?!

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The Epic Fail of Air New Zealand…

About three weeks ago, there was the curious case of  Claire Nathan on Maori TV’s current affairs show, Native Affairs.  Air New Zealand  would not hire her as an air hostess after discovering she had a ta moko on her forearm,

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Claire Nathan says her ta moko depicts her children and her heritage. Photo / Maori TV

Claire Nathan and her ta moko

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Air New Zealand, though, offered her a job as a baggage handler. Evidently, Claire’s ta moko might be seen as “frightening or intimidating” in many cultures, according to Air New Zealand.

Frightening or intimidating“?!?!

Which, if true, you have to wonder how such ‘delicate wee flowers’ could muster the strength and courage to actually board a flight which flies at 900 kilometres per hour at and 13 kilometres high up in the sky. All separated from frigid, thin air by a few centimetres of aluminium or  carbon graphite, held together by epoxy.

If only they knew they were boarding a modern jetliner and not a choo-choo train…

And if images of maori ta moko are so upsetting, those same travellers might think twice about boarding one of Air New Zealand’s latest aircraft, kitted out with new designs,

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Air New Zealand's fleet of 103 aircraft will be wearing the new livery by the end of next year.

Air New Zealand’s fleet of 103 aircraft will be wearing the new livery by the end of next year.

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So, according to Air New Zealand, using maori designs splashed across their aircraft is ok. It won’t spook the horses.

But a ta moko on a New Zealand maori woman’s body? Evidently not. Passengers may find it  “frightening or intimidating“.

But Air New Zealand was ‘big’ about it all. They said Claire could go work down with the baggage handlers. Away from the sensitive eyes of gentiles.

Racist much, Air New Zealand?

Acknowledgment:  NZ Herald – Tattoo wrangle: Air NZ ‘cutting off its nose to spite its face’

Acknowledgment:  NZ Herald – Maori tattoo doesn’t cut it at Air NZ

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The Kiwi way: Simplistic questions for complex problems?

Bryan Bruce writes on Inside Child Poverty New Zealand,

Next week on TV3’s The Vote is on a very badly framed question.” Is the Big Problem Facing Kiwi Kids Poverty or Parenting.”

Framing issues as an either/or isn’t helpful. But please vote Poverty.

Of course parents need to take responsibility for their children. That’s a given . The vast majority do . A few don’t.

Poverty isn’t something people choose as a lifestyle. That’s a given also.

The answer to the question can be BOTH so what button do you push at voting time?

The question I would like to see discussed is:

Am I at ALL responsible for the well-being of another person’s child?

My answer to that is – of course. That’s why we pay for hospitals to treat kids and schools to educate them. Caring for one another is one of the things that makes us a society and not a rabble,

The Vote programme will bring its stream of bad parent vitriol. The parent bashing comments are entirely predictable . The kind I refuse to print here.

However, this programme will go ahead and we need to do what we can to change public perceptions.

So I urge you to vote Poverty next Wednesday the 19th and don’t give the Government any excuse to say – “See I told you so.”

Thanks
Bryan

See also:

Our household supports Bryans endeavours 101%. We’ll be voting “poverty” next week and we encourage others to do likewise. (One vote per cellphone – but encourage family and friends to join in.)

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child poverty new zealand

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Big Brother is Watching. Listening. Filing us. Indexing us…

As more and more revelations become public that Western nations are surveilling their citizens, people like Edmond Snowden (see: For Edward Snowden) are assuming the status of international heroes.

It is in the nature of human beings to resist de-humanisation.

When Key was questioned on this issue, this was the exchange,

Prime Minister John Key has categorically denied that the Government Communications Security Bureau has been circumventing New Zealand law by accessing information from an international spying network.

Acknowledgment: NZ Herald – Key: No GCSB legal loophole

Now why should I – or anyone else – believe a shred of Key’s “categorical denial that the Government Communications Security Bureau has been circumventing New Zealand law by accessing information from an international spying network” ?!

Especially when, in the next breath, the NZ Herald story reports,

But crucially he has yet to make a statement on whether the spy bureau actually uses or has access to the Prism system which the US uses to harvest information from Facebook, Gmail and other technology giants.

Acknowledgment: IBID

As I witness events around the world – The Arab Spring, the Occupation Movement,  Bradley Manning, the uprising in Turkey, Edmond Snowden, et al – I am seeing a collective growth in a mind-shift of ordinary people against their governments.

Something is happening in the 21st Century. I can’t quite put my finger on it, but it appears to be a revolution that eclipses the Left-Right divide to something more. “Anarchism” or “libertarianism” might come close, but even that doesn’t quite explain what is happening.

It is as if people around the world, bonded via the collective hive-mind of the world wide web, are rising up against the Established Order (governments, global corporations, etc) to take back what was theirs in the first place.

We are witnessing history being made.  I’m not sure quite what or how,  but one thing I’m certain off; the next few years will be crucial to this r/evolution.

With one exception, their will be a resurgence of people-power and a winding back of  State surveillance/control.

The one exception? The United States of America. I believe we are witnessing the death-knell of the Land of the Free, and the slow emergence of a new totalitarianist State. (And not all the hand-guns or assault rifles in people’s private caches will do a damned thing to prevent it.)

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No 6 - the Prisoner

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Creepy?

Watch this ad for Visa. Does anyone notice anything creepy about it?

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= fs =

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Categories: The Body Politic
  1. 14 June 2013 at 11:02 pm

    I thought the advert was goddamn creepy the very first time I saw it – A man using cash to pay for something is an idiot? So shocking that the whole shop freezes in disbelief? Everyone else uses bank credit (as in debt) to make their ordinary meal purchase….So you’re telling me it’s ok to go into debt just to buy lunch – no fricking way mate!!

  2. Theodore
    15 June 2013 at 12:15 am

    The guy paying cash is the only true individual. The rest are all identical cogs in the machine. But the advert shows Cash Guy as the “freak” and all the other robots as “normal”. I must admit I’ve never seen an advert that portrays individuality in such a bad light and promotes uniformity to the point of absurdity. All that’s missing is that they’re all wearing identical Nth Korean Mao-suits.

    Does visa really think this will sell their product? I found it a turnoff.

  1. 16 June 2013 at 5:44 am

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