Hard News by Russell Brown

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Hard News: Slumpy Cashflow

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  • WH,

    Obviously the Herald readership´s intuitive command of 5th form economics renders anything Joseph Stiglitz might say about the relationship between interest rates and the prices of specific goods completely redundant.

    I had a brief look through the RBNZ´s monetary policy statement. Higher wages are generally considered a good thing, international energy and commodity prices do not respond to changes in New Zealand´s interest rates, we can´t effort to ignore climate change, so presumably the emissions trading scheme can´t be rolled back. And tax cuts/increases in spending seem set to remain on the table. Are we wasting our time and missing the point with these interest rates? Does anyone know?

    Sure, New Zealand needs to comprehensively address the housing market incentives problem that it deliberately overlooked in the good years, and not just by building more homes. But there must be more ways for government to effectively reduce the basic cost of living - from lowering the cost of vehicle registration (for instance) through to ensuring that water, power, phone services, banking and local government rates are priced at more affordable levels.

    Since Nov 2006 • 797 posts Report Reply

  • Tom Semmens,

    Rich said <But the NZ economy has a massive imbalance between those who live off earned income and those who live off capital (not helped by the way our "Labour" government has unaccountably maintained a tax system biased towards rentiers)>

    It's because we have a rentier psychology, that’s why. Most New Zealander's ambition is to acquire enough income to allow you to achieve the kiwi dream of an early semi-retirement to enjoy your BMW, boat and bach. We have no real entrepreneurial tradition, despite what we kid ourselves. We lack really good managerial talent and therefore rely on collectivist approaches to try and overcome the talent deficit, perhaps inevitable in a small and isolated country like ours but hardly likely to foster entrepreneurship. Until 1973 we were complacent in a highly protected economy paid for by primary produce exported to the U.K. The primary lesson for a small investor from 1995-2000 was only a fool risked their money on entrepreneurial enterprises because we ran our own version of crony capitalism, be it looking after Muldoon's farmers or destroying the economy for the benefit of Myers, Faye and Richwhite. We've now got a two step South Americanised economy - try and get a loan from our foreign owned banks for a start up company built around an idea or an invention. They'll give five minutes - four minutes laughing and one minute while security throw you out.

    We've got away with this and with wage stagnation so far because while the massive growth in profits for globalised corporates hasn't translated into higher wages, the property speculation boom and easy credit gave people the impression of increasing wealth and fed our lazy mania for unearned rental income. But now the debt pigeons are coming home to roost.

    Sevilla, Espana • Since Nov 2006 • 2217 posts Report Reply

  • John Morrison,

    We looked at buying a house in Cromwell awhile ago but the bank manager said it was out of our league

    Cromwell is not as bad as Wanaka nor Queenstown, the latter would rank as bad as the North Shore. I would thank that bank manager for not lending you the money - pity a few others didn't offer the same advice

    Cromwell • Since Nov 2006 • 85 posts Report Reply

  • Rich of Observationz,

    The first party to suggest that some sort of price control/local quota system for our local agricultural produce be introduced would be onto a vote winner.

    Maybe when the streets aren't full of fat kids and we don't have some of the highest obesity/diabetes levels in the world?

    Maybe we need a bit less of the propaganda that convinces people that red meat five times a week is a healthy diet?

    Back in Wellington • Since Nov 2006 • 5550 posts Report Reply

  • Tom Semmens,

    WH said: "...But there must be more ways for government to effectively reduce the basic cost of living - from lowering the cost of vehicle registration (for instance) through to ensuring that water, power, phone services, banking and local government rates are priced at more affordable levels..."

    But why should the government effectively subsidise the debt position of people who refused to entertain the idea of a capital gains tax when times were good, and who have now got THEMSELVES in the shit debt wise?

    it's the free market, baby. To many New Zealander's seem to think capitalism is great, as long as it is a one way bet.

    Sevilla, Espana • Since Nov 2006 • 2217 posts Report Reply

  • Che Tibby,

    Maybe we need a bit less of the propaganda that convinces people that red meat five times a week is a healthy diet?

    ditto on dairy products. the stuff isn't actually all that good.

    i'm no vegan, but i've felt worlds better since cutting bovine milk out of the diet.

    whitestone make a sheeps milk pecorino that is very, very, very good.

    but generally... and to eco tom. new zealanders have this inflated delusion of self-entitlement that is baffling.

    they just need to stop frickin whinging and live within their means. smaller car, smaller house, smaller meals.

    it's not the end of the world to eat beans for dinner for christssakes.

    the back of an envelope • Since Nov 2006 • 2042 posts Report Reply

  • daleaway,

    Plant a vege garden.

    Beware that cheap mozzarella, Craig. I wouldn't touch it with a ten foot cattle prod.

    In January, the BBC told us that half the Italian buffalo herd used for the production of mozzarella had brucellosis and were compulsorily being culled. Now this week they tell us that the Camorra (Naples brand of Mafia), who control the main buffalo grazing land in Campania, have been using it as an illegal toxic waste dump, and that your Italian mozzarella now comes with free added dioxins. In the NZ Herald yesterday and the Independent before that.

    Hopefully though you are talking about local mozzarella. New Zealand and Australian mozzarella is made from cow's milk and is not the same thing at all. With one further processing step we could use it for plastic. You can make your own, plenty of good instructions online. All you need is citric acid and rennet to add to the milk - the secret's in the kneading.

    Since Jul 2007 • 198 posts Report Reply

  • Ben Austin,

    Seems like an appropriate time to link the Survivalist Blog. Read the profiles if you are bored at work, they are strangely addictive.

    London • Since Nov 2006 • 1027 posts Report Reply

  • Sara Bee,

    We moved south in July 07, having sold the Wellington home in June 07. Phew, we think now. Have upscaled house for significantly less mortage here in Dunedin with the neglected vege garden looking more attractive all the time. So we figure we consolidated the financial position at the right time. And I refuse to buy butter - I simply can't pay that amount of money for it...

    Dunedin • Since Nov 2006 • 67 posts Report Reply

  • Rich of Observationz,

    the Survivalist Blog

    Mad. Americans.

    Back in Wellington • Since Nov 2006 • 5550 posts Report Reply

  • Gabor Toth,

    making cows-millk cheese is easy.

    making it *well* is another matter.

    Making it economic is another thing again.
    Unless you know a dairy farmer or have a house cow / goat, it is difficult to make home-made cheese economically from supermarket-purchased milk. It depends on the type of cheese you intend to make, but a kilo of a firmer-type cheese (say cheddar) can easily take 10 litres of milk to produce.

    Wellington • Since Dec 2006 • 137 posts Report Reply

  • Jeremy Eade,

    "To many New Zealander's seem to think capitalism is great, as long as it is a one way bet.'

    I agree, risk is used in happy financial terms as a way of "sorting the business men from the boys " , ya got to take a risk, as oppossed to the reality of it being a condition of uncontrolled investment that can be influenced by a whole heap of unforseen factors.....and we hear so much about not putting your eggs in one basket, what about if you don't even have a basket.

    auckland • Since Mar 2008 • 1112 posts Report Reply

  • Gareth Ward,

    New Zealand and Australian mozzarella is made from cow's milk and is not the same thing at all.

    Except for one crowd out of Clevedon who have got a herd of buffalo and producing our first ever mozzarella di bufala. And it's taaaaaaaasty...

    Auckland, NZ • Since Mar 2007 • 1727 posts Report Reply

  • BenWilson,

    Plant a vege garden.

    I do, but I can honestly say it doesn't save you much money. What it does do is give you the freshest most organic food possible, and it's really good exercise. But the sun's rays are a bitch, I do all mine early in the morning or late in the evening.

    Having what you eat totally dictated by the seasons has a certain quaint charm, but it gets old. You still have to buy fruit and veg. Or have the most diverse garden ever known.

    Auckland • Since Nov 2006 • 10657 posts Report Reply

  • Idiot Savant,

    making cows-millk cheese is easy.

    making it *well* is another matter.

    Perhaps you could show us with another one of your cookbook posts?

    And I'll second daleaway's comment about a vege garden. Not that I have much of one, but I (try to) grow a few things, and its nice to have them there when I want them.

    Palmerston North • Since Nov 2006 • 1717 posts Report Reply

  • Che Tibby,

    Perhaps you could show us with another one of your cookbook posts?

    i wish. my cheese-making skills are woeful.

    the next few food posts will doubtless be "making decent food on a budget". i did learn all my best recipes while on a student's income, after all.

    :)

    Plant a vege garden.

    you'd be surprised how much money you can save on the smaller things like fresh herbs. sure the tomatoes are 99c a kilo when you're harvesting them, and the only advantage is taste, but saving $5 by knicking rosemary out of the public gardens in central wellington really adds up over a year.

    the back of an envelope • Since Nov 2006 • 2042 posts Report Reply

  • Rich Lock,

    A friend of mine decided to experiment with the spice rack once.

    He ground up some coriander and cumin, and mixed them with some almonds he had lying around, to add some flavour.

    Once he'd prepared all of this, he filled his pipe and took a couple of puffs with me and a couple of mates watching. His eyes rolled back in his head and he slumped onto the ground.

    Of course, we were all quite worried, expecially when we couldn't get him to wake up. So we called an ambulance and got him to the hospital.

    The doctor examined him and told us there was nothing he could do - the poor guy was in a Korma.

    I'll get me coat.

    back in the mother countr… • Since Feb 2007 • 2728 posts Report Reply

  • Geoff Lealand,

    The Innovation Park at Ruakura seem to be be doing something about developing local mozzarella. Last year, I would bike past a herd of big-horned Italian water buffalo, which was a rather bizarre sight in the Waikato.

    I am all for vege gardens but it has been hard work this over-extended summer--mulching regularly, and hanging on to a hose at least twice a day--as well as new pests to deal with. I have been wondering how the rabbit population has been doing, what with not much more than emaciated cow or sheep legs to gnaw on.

    Screen & Media Studies, U… • Since Oct 2007 • 2562 posts Report Reply

  • Mark Thomas,

    mozzarella...could use it for plastic

    one crowd out of Clevedon

    where can i buy that clevedon mozzarella? is it kind of fibrous and stringy like the good fresh stuff in europe? i've despaired of the plasticky mozzarella i've found in NZ

    Auckland • Since Nov 2006 • 317 posts Report Reply

  • FletcherB,

    Mark, a little google on clevedon and mozzarella comes up with....

    http://www.clevedonfarmersmarket.co.nz/news-events.shtml

    West Auckland • Since Nov 2006 • 893 posts Report Reply

  • Mark Thomas,

    rabbit population

    there's still heaps of rabbits. i saw thousands of the little buggers swarming all over the place, when i was in otago last weekend. the rail trail is nice though

    Auckland • Since Nov 2006 • 317 posts Report Reply

  • Gareth Ward,

    Rich - brilliant. LOL

    Geoff - I believe that AgResearch was quarantining exactly those animals for the people in Clevedon. Could be wrong

    Mark - will be for sale at the Clevedon Farmers Market in a month or so. It certainly had that fibrousity (??) to it - I had some better in Italy but not many...

    Auckland, NZ • Since Mar 2007 • 1727 posts Report Reply

  • Maureen Gallie,

    yes,I agree with you John Morrison,wonderful blogging site.And I laugh out loud a lot.so far,I have not posted much,but I have certainly been entertained immensely.I will vote for this site.

    Russell/Hamiltonxtra • Since Mar 2008 • 11 posts Report Reply

  • Mark Thomas,

    Rich... groan! :)

    Auckland • Since Nov 2006 • 317 posts Report Reply

  • Peter Martin,

    'Dorresteyn, husband Richard and four partners are the cheese pioneers behind Clevedon Valley Buffalo Company.

    Although newcomers to the specialist cheese industry, this South Auckland-based company upstaged veteran cheesemakers by winning two golds and two silvers at the Cuisine New Zealand Champions of Cheese Awards last week.

    The buffalo ricotta won the Champion Fresh Unripened Cheese Award and the Champion New Cheese Award.

    The mozzarella won silver in the European Style Cheese and the New Cheese categories.'

    Clevedon isn't __that __far from Dunedin...is it?

    Dunedin • Since Nov 2006 • 187 posts Report Reply

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