Black Monday

[fish]

Yes it is flowing through from the main consultancies focus on supply chain strategy...larger employers will employ way less and sme's are slow on the uptake when do take on again...

There is so much to consider and it is good to reflect on the important issue of how employment will change.
The scope and magnitude of economic and lifestyle change initiated by Covid-19 is difficult to estimate but must include consideration of increased automation and more unemployment.For those employed less travelling and increased productivity.
The extent of this will likely vary around the world according to economies and how countries handle the epidemic.
Certainly looks as if the Pacific will be taking a different approach to the Northern Hemisphere

[Cyclical]

I saw the same thing after the GFC - job losses were used to cherry pick the best workers and as the economy grew, the slack was taken up by Automation. One of the things that discourages these companies from modernising their processes is the potential backlash from mass layoffs. When they have a genuine reason to lay people off, they take full advantage of it. I've said it before but this change is inevitable. The current situation only serves to expedite the process. My two cents...

Something that seems to be lost on AIR. We'll all pick up the tab though.

[moka]

Where to from here? There is a growing gap between the haves and the have-nots. Do we want a return to business as usual?

https://www.nzherald.co.nz/nz/news/a...=recommendedv1
Simon Wilson: Is this the death of neoliberalism?
Those who usually insist that the market knows best have fallen silent. Corporates now want protection. Business lobbyists have their hands out for help.
After 35 years of neoliberalism, let's just remember what those "capable" leaders bequeathed us. A level of poverty that should be a scandal in a developed society. A broken health system, a deeply embedded housing crisis, rising carbon emissions and dysfunctional transport in our major city.
None of these were "unintended consequences": they are the inevitable result of the neoliberal policies pursued for so long in this country.

Sadly, neoliberalism isn't about to die just yet. In many parts of the world, those in power are still happy to insist that if you focus wealth on the wealthy, everyone else will benefit too. Trickle-down economics.
We want prosperity, but also biodiversity and the sustainable management of resources. We don't yet know what a new political economy that can deliver all that will look like.
But it isn't neoliberalism. If we didn't know that already, we certainly do now.

[Marilyn Munroe]

Further to CatoTonic's prediction of labour substitution by automation the turning off the tap for cheap compliant migrant workers will also add to this trend.

Those in charge of dark satanic mills formerly reliant on foreign workers will wonder if automation is an easier option than hiring kiwi's

Boop boop de do
Marilyn

[bull....]

China reports 14 new infections as northeast city returns to partial lockdown

https://www.scmp.com/news/china/soci...northeast-city

even china city going back to partial lock down after easing , of course its probably worse than reported. sth korea also retreating on nightclubs , bars after they re - opened now closing them down again.

second waves are big risks to market not factored in at all

[kiwico]

Where to from here? There is a growing gap between the haves and the have-nots. Do we want a return to business as usual?

https://www.nzherald.co.nz/nz/news/a...=recommendedv1
Simon Wilson: Is this the death of neoliberalism?
Those who usually insist that the market knows best have fallen silent. Corporates now want protection. Business lobbyists have their hands out for help.
After 35 years of neoliberalism, let's just remember what those "capable" leaders bequeathed us. A level of poverty that should be a scandal in a developed society. A broken health system, a deeply embedded housing crisis, rising carbon emissions and dysfunctional transport in our major city.
None of these were "unintended consequences": they are the inevitable result of the neoliberal policies pursued for so long in this country.

Sadly, neoliberalism isn't about to die just yet. In many parts of the world, those in power are still happy to insist that if you focus wealth on the wealthy, everyone else will benefit too. Trickle-down economics.
We want prosperity, but also biodiversity and the sustainable management of resources. We don't yet know what a new political economy that can deliver all that will look like.
But it isn't neoliberalism. If we didn't know that already, we certainly do now.

I realise papers have to sensationalise in order to sell, and the opinion pieces have to go a step further but much of this is tosh.

Corporates want protection? Only because the government has shut down their ability to do business.
Poverty? We have relative poverty in New Zealand which, when based on a percentage of average of earnings, will mathematically always occur.
A broker health system? Our family has found the health service provides admirably whenever it has been needed.
Housing crisis? Yes, houses have become very expensive based on salaries but a return to the mean of interest rates would go a long way to solving this. [Or competent government ministers.]
Dysfunctional transport? Perhaps in Auckland but blame the Council. Here in Wellington the trains run fine and if the Regional Council hadn't been such dicks the buses still would too.

Like in New Zealand for the vast majority is so much better than this article suggests.

[jonu]

I realise papers have to sensationalise in order to sell, and the opinion pieces have to go a step further but much of this is tosh.

Corporates want protection? Only because the government has shut down their ability to do business.
Poverty? We have relative poverty in New Zealand which, when based on a percentage of average of earnings, will mathematically always occur.
A broker health system? Our family has found the health service provides admirably whenever it has been needed.
Housing crisis? Yes, houses have become very expensive based on salaries but a return to the mean of interest rates would go a long way to solving this. [Or competent government ministers.]
Dysfunctional transport? Perhaps in Auckland but blame the Council. Here in Wellington the trains run fine and if the Regional Council hadn't been such dicks the buses still would too.

Like in New Zealand for the vast majority is so much better than this article suggests.

Simon Wilson is a Woke Joke. A journo who is very much in the Cindy stardust camp. Implying the market has failed, when in reality it has been completely constrained, is plain foolish.
One area I think NZ does need better government leadership is infrastructure, particularly Ports, Roads and Rail, Electricity. Government shouldn't run these things but I think there is strong argument for public ownership of essential infrastructure and utilities.

[Timesurfer]

China reports 14 new infections as northeast city returns to partial lockdown


https://www.scmp.com/news/china/soci...northeast-city

even china city going back to partial lock down after easing , of course its probably worse than reported. sth korea also retreating on nightclubs , bars after they re - opened now closing them down again.

second waves are big risks to market not factored in at all

By the look of the money flooding in to the market today the sun has come out and all is well with the world. We will get a level 2 announcement today and likely level 1 next week.

I can see no other rhyme or reason behind some of the upswings today. You would have to be an eternal optimist to think the tourism market is about experience a sudden upswing in fortune. Same with some of the others looking all green. But there seems to be a lot of money out there that just has to find a home. Be an interesting next few weeks.

[causecelebre]

Not sure where to post this and sorry if its been posted before. I found the graphs quite interesting:

https://www.interest.co.nz/personal-...ent-done-their

[kiwico]

Simon Wilson is a Woke Joke. A journo who is very much in the Cindy stardust camp. Implying the market has failed, when in reality it has been completely constrained, is plain foolish.
One area I think NZ does need better government leadership is infrastructure, particularly Ports, Roads and Rail, Electricity. Government shouldn't run these things but I think there is strong argument for public ownership of essential infrastructure and utilities.

At least water is still held at the public level in New Zealand but the local councils in the Wellington region are struggling to keep up with the costs of renewal with Porirua City looking to become part of Wellington City because they can't afford the water mains repairs and replacement. Where there can't be competition, such as what water you receive or the lines company you use it does make sense to be in public hands. But they should still have to operate at private sector levels of service (and pay) and not slide into public sector sloth (and ridiculous salaries).