Obama proposes more regulation of US banks

BBC Report today that President Obama is planning new regulations of the US banking sector.
US President Barack Obama has proposed significant new curbs on the activities of banks to try to prevent future financial crises.  The plans - the most far-reaching yet -include limits to the size of banks and restrictions on riskier trading.

While the greed of certain fringe financiers may have got the world into the financial mess it found itself in last year.  It is by no means clear that ongoing extension of state controls in the solution.  Arguably if those companies that got themselves into difficulty had been allowed to go under the market would be now have cleared out the companies that acted unwisely with depositers funds.

It's not just the Taliban holding back Afghanistan

BBC Report today unveils the huge scale of bribery going on in Afghanistan.  In fact it equals almost a quarter of the nation's GDP!  No country, especially a wartorn one, can hope to build sustainable economic development with that scale of corruption. A commitment to honest dealing is a cornerstone of a successful market economy.  Without it history shows us that fair dealing will be imposed - either through socialist intervention or through fundamentalist authoritarianism. If the western nations hope to see a semblance of market growth and the first shoots of democratic institutions then they will need to look more broadly than just military, or material aid.

UK debt a concern to lenders

BBC Report that investment analysts are increasingly worried that the UK government does not appear to have a plan to reduce the UK's ballooning level of debt. Although the UK indebtedness is still not as bad as that of some other developed economies it has deteriorated more rapidly. 

Ultimately the government will have to put in place a plan to address this issue.  Government spending needs to be reviewed as a  spur to long term sustained growth and a reduction in debt to GDP levels.

Tobacco tax increase urged in the Year of the Lung

A good story in scoop regarding the need to raise taxes on tobacco.  Scoop: Tobacco tax increase urged in the Year of the Lung .  It's not often that you get a policy decision which can be both popular, improve the health of citizens and boost the government's tax revenues.

Churton Park Community Chair To Stand Down

Wellington.scoop.co.nz reported my resignation as President of the local Churton Park Community Association today. 

I have decided not to seek re-election at the CPCA’s AGM in March. My resignation will take effect from the AGM on March 17th.

2010 marks my seventh year on the Community Association since 1997 – including two separate terms as President. I believe now is the right time to stand down.  The CPCA has a strong committee and a good succession plan. I am confident that it will continue to work tirelessly for the interests of the local community.

The CPCA finances are in good shape, we have secured approval for major infrastructure projects. In addition events such as our annual Community Christmas function continue to attract strong local support.

The new Neighbourhood Centre at Lakewood Avenue is scheduled for 2011. The new Westchester Drive extension is also due during 2011 and it will help reduce heavy traffic volumes on local roads as well as provide for future growth.

In addition the Minister of Education, Anne Tolley, has also confirmed the building of a second primary school at Amesbury Drive in Churton Park to be opened in Term 1 2012. This school will at last resolve the ongoing pressure of roll growth by increasing the collective capacity of local schools.

I was recently appointed by the Minister of Education to the Establishment Board of Trustees (EBOT) for the new Amesbury Drive School.  I look forward to seeing Churton Park continue to grow and prosper as part of the wider Wellington region. Building good quality infrastructure – especially in the education sector – will be a critical part of that success.

A new Committee will be elected at the AGM in March.  To the existing Committee I'd like to say thanks for your commitment and support over the last year. It's been a blast.  I wish you well for 2010.

NZ 9th biggest dairy producer - 1st biggest dairy exporter by country

India is the largest producer of dairy products in the world. There is a great deal of variation in the pattern of dairy production world-wide. Many countries which are large producers, consume this internally, while others — in particular New Zealand — export a large percentage of their production. Internal consumption is often in the form of liquid milk, while the bulk of international trade is in processed dairy products such as milk powder.


The world's largest exporter of dairy products is New Zealand,[24] and dairy products are the largest export earner for the country.[25] Fonterra is the fifth-largest dairy company in the world and New Zealand's largest company by turnover.
In terms of the global marketplace the seven largest producers of dairy products are:  India, USA, Germany, Pakistan, China, Russia and Brazil. New Zealand ranks ninth - just behind France and ahead of the UK. http://en.wikipedia.org/wiki/Dairy_farming

Now if only we could get three or four more large NZ-based exporters like Fonterra  - in sectors like ICT, Film & content production, Tourism, and Wood products.

Which university degrees pay the most?

Stuff.co.nz today reported that "school-leavers aiming for a well-paid job after university should study engineering or health sciences, a new government report suggests.  Meanwhile, those less concerned about salary should consider tourism, performing arts, visual arts, and graphic and design arts. "

"The other lesson is that sticking at your studies can pay off - graduates with a doctorate can expect to pick up jobs with salaries almost 50 percent higher than those with bachelor degrees. " 
The new report will be of interest to educators as well as parents and taxpayers as funders.

Criminals owe their victims $80 million - NZ Herald News

Criminals owe their victims $80 million - National - NZ Herald News
Crime victims are owed more than $80 million in reparations - a 33 per cent jump in three years.  Ministry of Justice figures show 60,000 victims were owed $80.5 million of court-ordered reparation at October 30 last year - an average of about $1300 each.  The oldest reparation still owed dates back to 1974.

It's no wonder that victims of crime are losing faith in the justice system.  Reparation payments must be strictly enforced.  Australia has a 97% collection rate - much higher than that achieved in NZ.  If it means keeping offenders in gaol until payment is made then so be it.

Brown coup plot shows UK Labour 'deeply divided' - Cameron

BBC News reports of another plot against British Prime Minister Gordon Brown seem certain to the problems facing the Labour leader six months out from a General Election.   BBC News - Brown coup plot shows Labour 'deeply divided' - Cameron

According to recent opinion polls the British public are in the mood for change.  Some polls, however, have shown a closing of the gap meaning that Labour may still have an opportunity to pluck victory from the jaws of defeat if they can hold enough seats and if the Liberal Democrats attract sufficient support to prevent the Conservatives from winning an outright majority.

However, we consider that such an outcome is still highly unlikely barring any major errors by the Conservative leadership.  One thing is clear.  Whichever party wins the next election it faces a major challenge to re-invigorate the stalled British economy.

AFP: Clinton to visit Australia, New Zealand, PNG

AFP: Clinton to visit Australia, New Zealand, PNG : US Secretary of State, Hillary Clinton, will be conducting a flying visit to Australia, New Zealand and Papua New Guinea next week to discuss international security issues, development and the environment. New Zealand's relationship with the USA remains vitally important for defence, trade and foreign affairs.

Wellington Ratepayers face the Cost of another Council budget blowout

Dominion Post today broke the story of another series of losses made by entities in which it has an interest.  How much longer will ratepayers tolerate these ongoing failures?

With ordinary Wellingtonians having to make cuts to make their spending match their income ratepayers are well within their rights to wonder why Council bureaucrats seem to operate to a different set of rules.  Hapless ratepayers should not be forced to cover for inefficient council decisions.

Living with a smoker puts kids at risk for emphysema - USATODAY.com

Living with a smoker puts kids at risk for emphysema - USATODAY.com

Further evidence of the damage done by passive tobacco smoke inhalation.  Because the full costs of choosing to smoke are not borne by the smoker it is impossible to treat this as purely private choice analagous to buying a tin of baked beans. Control and reduction of tobacco use is one of the areas where strong and effective regulation is required.