As had happened after the 4 September 2010quake, there was a lot of liquefaction. Most Cantabrians were away from their homes when the 6.3-magnitude earthquake struck at 12.51 p.m. on 22 February 2011. No, experts are not concerned that “. ¿Ò¯ð+Í I disagree. The first year for the new school was 2014, but there were many challenges: There were two separate school sites Essentially it is the same as pure Keynesian theory with the exeption that we don’t borrow from our own bank but have the Treasury create the money directly – otherwise the rules apply. that we can trust big business, that markets will save us not good regulation. This boom and bust might further damage business confidence and, with it, longer-term growth. RNZ reports on continued arbitrariness on decisions at the border. http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10671573& for example. It is hard to disentangle the effects of the earthquakes from other As it was deliberately set aside for a specific purpose, it can’t be used for another purpose. The 13th season of the flagship US version debuted, Dunedin writer Victor Billot resumes his weekly odes to New Zealanders in the news. Advocates of government spending fall prey to the same broken window fallacy that afflicts those touting the supposedly stimulatory effects of the earthquake. No matter what way you look at this, in human terms it is far less than a zero sum game. The next steps in the Government’s ambitious firearms reform programme to include a three-month buy-back have been announced by Police Minister Poto Williams today. What a sad reflection upon our government. Key at various times. It was the middle of a working day and many people were at school or work, having lunch or running errands. Now we’re getting access to that $10 again, but it isn’t new money magicked out of nowhere, but deferred spending from 1990. Should tech giants control the public square? If interest rates increase our interest and repayment burdens increase – it only takes a little war in Iran to cause interest rates to sky rocket. However, there will be a boom for individual businesses, particularly those in construction. This may lead to possible labour or skills shortages in some trades, such as services. 8-ԙŸjüŸjŽÙt¼r®>ÆOç7±çÞ9®ëÄûüžC;r2?›’Ç&Β" Oc\ ¹çÉåŒTT àzϱîq™ð–÷Š>ŒŽENÛÁ2'³_öcÕ-%ÖR›œ Liquefaction happens when underground water in the soil comes to the surfac… At least they’ll have something to do for a while now, and the construction industry has the spare plant and equipment for the rebuilding task. ... A growing public housing waiting list and continued increase of house prices must be urgently addressed by Government, Green Party Co-leader Marama Davidson said today. Northland farmer Derek Robinson was sentenced earlier today by the District Court in Whangarei for two offences of ill-treating animals at rodeo events. These were the seeds of what Smith … People are dislocated, injured, or busy trying to get their personal lives together. As you pointed out in the last paragraph, “Offsetting this, possibly, is that it just became much less likely the Reserve Bank will increase interest rates again, which should dampen demand for the dollar.”. Environmental, economic and social impacts affecting Christchurch. . The rebuilding of Christchurch will not be like that it’s not going to create sustainable economic momentum or add greatly to the productive capacity of Christchurch. "F Sorry, we live in interesting times and we should beware because simple analysis doesn’t work. You’re next!”, Coming attraction: IPCC's upcoming major climate assessment, Look for more emphasis on 'solutions,' efforts by cities, climate equity ... and outlook for emissions cuts in, After the Insurrection: Accountability, Reform, and the Science of Democracy, Prof. Angela Gallego-Sala & Dr. Julie Loisel. You’re next! Henry Hazlitt is credited with bringing Austrian economics to an English-speaking audience, he secured a position at New York University for the economist Ludwig von Mises, and he introduced the novelist Ayn Rand (Alisa Zinolev’yevna Rosenbaum) to Mises. His Twitter handle is @MartinKulldorff #1 Public health is about all health outcomes, not just a single ... Joe Biden seems to be everything that Donald Trump was not – decent, straightforward, considerate of others, mindful of his responsibilities – but none of that means that he has an easy path ahead of him. Downloadable! Donald Trump, elected on a promise to ‘drain the swamp’ and a constant mocker of his predecessors, ... For over a decade commentators have noted the rise of a new brand of explicitly ideological politics throughout the world. The Government has approved an exception class for 1000 international tertiary students, degree level and above, who began their study in New Zealand but were caught offshore when border restrictions began. While the world burns in a searing fireball of unpredictability, we can take comfort in the fact that some things never change. You’ve seen my other posts so you know where the money can come from tax free – without interest or debt. “The issues facing Oranga Tamariki are beyond individual ... Editor’s Note: Here below is a list of the main issues currently under discussion in New Zealand and links to media coverage. Economic cycles move a lot quicker than decision makers apparently which renders a lot of these decisions irrelevant. Imagine the quake with Key in charge in 2006-7, A team organized by the Earthquake … What the broken window fallacy is really about is opportunity cost. It could have be so much worse. ... Yesterday’s government announcement on new state housing is a pathetic response to the biggest housing crisis in New Zealand since the 1940s. Likewise, replacement buildings are likely to have better earthquake strengthening incorporated (or you’d like to think so). quake resistent upgrades without any loss of life. Burwood was one of the hardest hit areas with over 50 per cent of the school zone designated "Red Zone" and a loss to the school roll in excess of 200 children. buildings, and stop new subsections on sand (like on that beach subsection in the Coromandal, I must say that this is a very critical analysis. The brutal truth: There are votes to be won in a broken housing market, Exit Of Moss Vital First Step In The Sequence Of Transformation, The Friday Poem: Her uncle’s eye by Jenny Powell. As Westpac noted “This will boost national GDP by far more than the initial income loss, with a corresponding letdown once the reconstruction boom ends.” Just as with the Rugby World Cup, the one-off up-tick in GDP will be matched by a corresponding downwards movement when the spending stops. We’ve met to discuss Archetypes. all have crisis that hit them, if they are governed well they have stores of money to cover the Chris Liddell – yes, he worked for Trump, and he risked his job by recognising the need for a smoo... Who are the men looking for love on The Bachelorette NZ? Once again you are labouring under the misapprehension that, while an earthquake destroying buildings is bad for the economy, the government spending money to “stimulate” the economy is good. Make the infrastructure green while you’re at it and you reduce the environmental impact. To counter this the Government has two options: 1. Public credit – the Govt issues 200 Million in money and spends or lends it directly into the economy. The funding will allow disability service providers to develop digital and community-based solutions over the next two ... Border workers in quarantine facilities will be offered voluntary daily COVID-19 saliva tests in addition to their regular weekly testing, COVID-19 Response Minister Chris Hipkins said today. Watching today’s inauguration of Joe Biden as the United States’ 46th president, there’s not a lot in common with the inauguration of Donald Trump just four destructive years ago. Statistical Damage Survey of the 2010 and 2011 Christchurch Earthquakes T. Lai, & A. Nasseri AIR-Worldwide Corporation, Boston, MA, USA F. Turner California Seismic Safety Commission, USA SUMMARY The two recent earthquakes in Christchurch, New Zealand provided an opportunity for researchers to collect information on seismic performance of buildings. This is also part of the State Theory of Money. So, I thought it would be worthwhile going through the economic ramifications of the earthquake from the immediate effects to long term: Initial effects: The economic heart of Christchurch is shut down. In September 2010, Christchurch was shaken by the magnitude 7.1 Darfield earthquake, caused by movement along faults west of the city on the Canterbury Plains. The cost in human terms will be long lasting and greatly outweigh simple $$ calculations. TheOneRing.Net has got its paws on the official synopsis of the upcoming Amazon Tolkien TV series. “they could create 20 Million” should be “they could create 200 Million”, Just wanted to thank you for the explanation nzfp… I’m busy absorbing it…. Click here to access the complete original article and comments posted on Carbon Brief. That’s likely to be much worse now. The leader of each APEC economy appoints three private sector representatives to ABAC. Dire wolves went extinct 13,000 years ago but thanks to new genetic analysis their true story can no... Twitter’s suspension of New Zealand-based right-wing accounts ‘an overreaction’ – Simon Bridges, NZ right-wingers caught up in global purge of Twitter accounts, Twitter crackdown reaches NZ: Hundreds of NZ right-wing users kicked off Twitter, Skeptical Science New Research for Week #2, 2021. “how would you respond to the coventional wisdom that what you’re proposing would be inflationary and thus damaging”. While we can see the benefit to the glazier from repairing the window (or in this case the contractors for repairing the buildings) we can’t see what the person with the broken window would have done with the money if he hadn’t had to pay for the repair. The Earthquake Commission, logically, has most of its assets offshore, and so do the insurance companies. In the ten minutes after it hit, there were 10 aftershocks of magnitude 4 or more. Why Australian Open tennis players find hard loc... Level-crossing removals: a case study in why major projects must also be investments in health, Vital Signs: Biden’s economic centrism isn’t exciting, but right for these divisive times. http://tvnz.co.nz/q-and-a-news/q-interview-john-key-3760861?tvnzmp=1. ... Ban Bomb Day event at the New Brighton Pier, 9am, on January 22nd, 2021 January 22nd, 2021, marks the first day the Treaty on the Prohibition of Nuclear Weapons (TPNW) Enters into Force and becomes international law. Overall, the Canterbury economy has been reasonably resilient to the impact of the earthquakes, and the spillover to other regions in New Zealand has been limited. Photograph: David Wethey/EPA. Rescue workers are lowered by crane onto the top of the Christchurch Cathedral in Christchurch, New Zealand, Feb. 25, 2011 after the city was hit by a 6.3 earthquake Feb 22. Given how long it takes it get building permits, import building materials (which adds to the current account deficit) and get a builder, I would have thought the stimulus effect would be extremely diluted by the anticipitated time this money will be spent over. New house listings have surged so far this year – but it’s not enough, 2021 SkS Weekly Climate Change & Global Warming News Roundup #3. To make the payouts, they’re going to have to buy a lot of New Zealand dollars – higher demand equals higher exchange rate. Earthquake Impacts in the Christchurch CBD Prof Jarg Pettinga & Dr Tom Wilson Dept. His influences included: Frédéric Bastiat, Philip Wicksteed and Ludwig von Mises. The September quake had occurred in the early hours of the morning with family generally close at hand. The Mob Rules Society: Reckoning between an Idea versus the Reality of America as chickens came home... They’re everywhere: New study finds polyester fibres throughout the Arctic Ocean, With COVID-19 mutating and surging, NZ urgently needs to tighten border controls, Government’s latest Covid measures described as both too strong and too weak, Covid-19: Ban on UK flights should be considered – Professor Nick Wilson, Covid-19 testing numbers plummet, worrying experts, Liam Hehir: Do as I say – the ongoing risks of covid hypocrisy, How we work: Getting input from scientists, Reviewing the horrid global 2020 wildfire season, Government accused of being ‘too relaxed’ over new Covid strains, Judith Collins on urging Govt to accelerate rollout of vaccine, Government being lobbied to accelerate the Covid vaccine rollout ‘before it’s too late’, Coronavirus: Judith Collins calls for vaccine roll-out ‘now’, or consider closing the borders, 2021 SkS Weekly Climate Change & Global Warming Digest #02, NZ Privacy Commissioner critical of Facebook and Twitter’s decision to ban Trump, NZ privacy commissioner says social media bans on Trump ‘arbitrary and cynical’, PM should not ‘tiptoe’ around Trump’s culpability – professor, US riots: NZ Trump aide Chris Liddell staying on to ‘lead successful transition’. Ultimately, about $2 billion of capital from the government and private insurers will be converted into expenditure to rebuild the capital that was lost. In the first month of this year, there’s been more RuPaul’s Drag Race than ever. Disrupts normal life On the 22nd February 2011 Christchurch experienced an Earthquake which was rated as one of the nations deadliest peace time disasters. In the wake of Donald Trump's incitement of an assault on the US capitol, Twitter finally enforced its terms of service and suspended his account. I understood that the money (especially from EQC) to be spent rebuilding is dedicated to rebuilding. He influenced Milton Friedman. Not perfect, because it never was. So while the government isn’t necessarily knocking things down (although wars do plenty of that), it is still fallacious to tout the results of stimulus without thinking about the other side of the ledger. Racing 2-year-old horses is lucrative, but is it worth the risks? On 22 February 2011, Canterbury and its largest city Christchurch experienced its second major earthquake within six months. Dropping a million dollar bomb doesn’t result in a million dollars worth of production, it results in a million dollars with of destruction, and that million dollars has gone for good. Yes what I’m saying is Pie in the Sky but as you well know this was the policy of Sir Michael Joseph Savage so it’s happened before. The only problem we have is creating the necessary funds and putting the money to use fueling the labour necessary to produce the necessary infrastructure. What do you want our government to achieve on climate action in their first 100 days? The extra 8,000 homes – 6000 public ... Prime Minister Jacinda Ardern has congratulated President Joe Biden on his inauguration as the 46th President of the United States of America. Book Review: Unlocking the World of Autism, Public housing waitlist grows by 1000 in two months to new record high as high rents hit the poor, The Crown spent $16.5 million in four years on motels for emergency accommodation, Affordable Wellington flats offered through council initiative, Shipping container for rent at $390/wk: Council to inspect, Gillett et al. “They are not going to spend up large” maybe, maybe not – but it doesn’t matter because the Government could spend up large and should – we need soo much infrastructure built and repaired in our nation and that doesn’t include the lack of investment in human infrastructure such as health and education. Though the government supplied money for those who were fired, businesses that needed re … Both of these suggetions would reduce the cost of transport of goods and improve the Online economy – both would boost sustainable economic productivity. Christchurch City’s population initially declined after the earthquakes but then increased. Here’s The Times of Israel from 16 November. Yeah, I got that bit. It was the biggest earthquake since 1931. The same is true of the need to spend our savings on rebuilding. COVID-19 vaccines and community immunity (transmission), Four years of the Aotearoa NZ Science Journalism Fund, Treaty on the Prohibition of Nuclear Weapons, Labour announces that it will make more housing announcements this year, Backlash over Labour’s public housing ‘re-announcement’ prompts firm defence from Jacinda Ardern, More public housing won’t ‘fix’ the housing crisis, Jacinda Ardern’s government facing continued criticism over its. to make a measurable difference, you would have to spend it quickly but it would just be quicker up, quicker down. Longer term: once the rebuilding is over, there will be little to show for it. Such business models are illegal under the Fair Trading Act 1986. 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