PODCAST

The Kākā by Bernard Hickey

Bernard Hickey

Bernard Hickey and friends explore Aotearoa’s political economy together. thekaka.substack.com

news politics

All Episodes

9:34

Trump just detonated a neutron bomb under the global...

The Kākā by Bernard Hickey ·

2025/04/06

Long story shortest in Aotearoa’s political economy this morning: Donald Trump just detonated a neutron bomb under the globalised economy, but this time the Fed isn’t cutting interest rates to rescue markets because Trump’s 1910-level tariffs will both slow US growth AND increase US inflation. But we may benefit through high global dairy and beef prices, European wines being tariffed more than ours, and cheaper stuff from China they can’t sell elsewhere. Also, the US bond yields that partly

60:03

The Hoon around the week to April 4

The Kākā by Bernard Hickey ·

2025/04/03

The podcast above of the weekly ‘Hoon’ webinar for paying subscribers on Thursday night features co-hosts Bernard Hickey & Peter Bale talking about the week’s news with regular and special guests, including:* Cathrine Dyer and Elaine Monaghan on the week in geopolitics and climate, including Donald Trump’s tariff shock yesterday; and,* Labour’s Disarmament and Associate Foreign Affairs Spokesman Phil Twyford on the epic changes in geopolitics in recent months.The Hoon’s podcast version above was

8:49

Luxon's 'going for growth' actually means 'going for...

The Kākā by Bernard Hickey ·

2025/04/01

Long story short: PM Christopher Luxon said in January his Government was ‘going for growth’ and he wanted New Zealanders to develop a ‘culture of yes.’ Yet his own Government is constantly saying no, or not yet, to anchor investments that would unleash real private business investment and GDP growth. Instead, Luxon’s cabinet is choosing to reduce public borrowing at a time when investors are desperate to lend their cash piles to Governments. Businesses are becoming increasingly frustrated and said

7:42

30% of doctors leave NZ after graduation

The Kākā by Bernard Hickey ·

2025/03/23

Mōrena. Long stories shortest: The news this morning is dominated by the crises cascading through our health system after 20 years of being starved of funding and staffing in real, per-capita terms. Auckland’s Starship hospital is now without a paediatric palliative care specialist, meaning there is none at all in Aotearoa. Hundreds marched against cuts in services in Napier. Almost a third of doctors who graduate here migrate overseas within a decade.(There is more detail, analysis and links to

11:58

Bernard’s Soliloquy for the week to March 23

The Kākā by Bernard Hickey ·

2025/03/22

Long stories shortest this week in our political economy: * Standard & Poor’s judged the Government’s council finance reforms a failure. * Professional investors showed the Government they want it to borrow more, not less. * GDP bounced out of recession by more than forecast in the December quarter, but data for the just-ending March quarter suggests the recovery is stuttering. * Behind in the polls and facing growing provincial unrest over health cuts and higher speed limits, the Government

7:24

Why is the Govt so afraid of borrowing?

The Kākā by Bernard Hickey ·

2025/03/20

Mōrena. Long stories shortest: Professional investors who are paid a lot of money to be careful about lending to the New Zealand Government think it is wonderful place to put their money. Yet the Government itself is so afraid of borrowing more that it is happy to kill its own popularity by starving our hospitals, schools and houses of the investment needed to become more productive and healthy. Surely, the Government would be so certain of the dangers of borrowing more that it could point to

9:13

S&P downgrades 18 councils, blaming Govt

The Kākā by Bernard Hickey ·

2025/03/20

Mōrena. Long stories shortest: Standard & Poor’s has cut the credit ratings of 18 councils, blaming the new Government’s abrupt reversal of 3 Waters, cuts to capital grants & new unfunded mandates. The downgrades, with the potential for one more cut for Wellington Regional Council, Wellington City Council and Dunedin City Council, are likely to increase interest costs for ratepayers and restrict their ability to invest in the infrastructure the Government says is needed to grow GDP faster.Also,

5:12

Climate sceptic ACT MP attacks National

The Kākā by Bernard Hickey ·

2025/03/18

Mōrena. Long stories shortest: ACT’s renowned climate sceptic MP Mark Cameron has accused National of being 'out of touch' with farmers by sticking with New Zealand’s Paris accord pledges to reduce emissions. David Seymour downplays Cameron's comments, saying National is (happily) doing the bare minimum on climate. A fast-track panel rejects Contact’s plans for big wind farm.(There is more detail, analysis and links to documents below the paywall fold and in the podcast above for paying subscribers

8:37

'There are no exemptions. Just eat it.'

The Kākā by Bernard Hickey ·

2025/03/17

Long stories shortest: David Seymour has denied a request from a Christchurch school and any other schools to be exempted from the Compass school lunch programme, saying the contract must be obeyed. Christopher Luxon’s net approval rating in his first year as PM is vastly lower than those of Helen Clark, John Key and Jacinda Ardern. Chris Bishop is (rightly) incensed that a consent for an 11-storey office building next to Karangahape Road’s new rail station has been rejected because it would change

24:59

The problems with PPPs

The Kākā by Bernard Hickey ·

2025/03/14

Here’s the excellent explainer on PPPs from Patrick Reynolds over at Greater Auckland that this chat was based on.Thank you Edward Miller, James Wilkes, Andrew, and many others for tuning into my live video with Patrick Reynolds! Join me for my next live video in the app. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thekaka.substack.com/subscribe

9:01

PPPs are more expensive, slower & riskier than Govt DIY

The Kākā by Bernard Hickey ·

2025/03/13

Long stories shortest: The Government’s international investment conference ignores the facts that PPPs cost twice as much as vanilla debt-funded public infrastructure, often take longer, and often have to be relitigated or bailed out later. The biggest projects pitched also make no economic or fiscal sense for taxpayers. Also, the school lunch scheme continues imploding and long covid is squeezing our labour force.(There is more detail, analysis and links to documents below the paywall fold and in

5:13

IMF calls for Capital Gains Tax or land tax

The Kākā by Bernard Hickey ·

2025/03/12

Long stories shortest: The IMF says a capital gains tax or land tax would improve real economic growth and fix the budget. GDP is set to be smaller by 2026 than it was in 2023. Compass is flying in school lunches from Australia. 53% of National voters say the new school lunch system isn’t working. One school is feeding the lunches to pigs, which ACT said happened under Labour. David Seymour attacked the journalist who pointed that out. (There is more detail, analysis and links to documents below the

7:01

Luxon wants media to celebrate National's...

The Kākā by Bernard Hickey ·

2025/03/11

Long stories shortest: Christopher Luxon denies his Government caused a homelessness crisis documented by Auckland Council. Instead, he wants media to celebrate his achievements more. Libelle’s collapse demonstrated how David Seymour has cut Erica Stanford out of the loop and how he ignored official concerns last year about Libelle and Compass. Donald Trump just doubled tariffs on Canadian steel and aluminium imports to 50%, so global markets are falling again this morning.(There is more detail,

5:28

Luxon’s economy focus at odds with voters

The Kākā by Bernard Hickey ·

2025/03/10

Long stories shortest in Aotearoa’s political economy this morning: * National’s pollster finds Christopher Luxon has fallen behind Chris Hipkins as preferred PM for the first time, with Labour’s support high enough to govern with the Greens & Te Pāti Māori.* Asked about the polls, Luxon says fixing the economy will improve support for the Government, but a new survey shows voters, including National, ACT and NZ First voters, want the health system’s crisis resolved as a priority.* Luxon has also

5:16

Owners of compulsorily acquired non-iwi land to be...

The Kākā by Bernard Hickey ·

2025/03/09

Long stories shortest in Aotearoa’s political economy this morning: * Within months and before Parliamentary approval is obtained, the Government plans to strip non-Maori landowners of the right to use the Environment Court to stop compulsory acquisition for fast-track projects and big new motorways.* The Government also wants to buy off landowners who volunteer to sell early by paying them up to $150,000, with all non-volunteers getting up to $92,000 extra.* Iwi land owners will also get paid off,

22:15

Will Adrian Orr’s replacement unleash a new mortgage...

The Kākā by Bernard Hickey ·

2025/03/05

Long story short: Reserve Bank Governor Adrian Orr has resigned unexpectedly and without explanation, three years before the end of his second five-year term. Finance Minister Nicola Willis and soon-to-be Deputy PM David Seymour never wanted the-then Labour Government to reappoint him in late 2022, arguing (with hindsight) his actions worsened the 2022-23 inflation shock by stimulating the economy too much and criticising his increased regulation of banks for stifling competition.The big four banks

7:58

Luxon trusts Seymour & Trump

The Kākā by Bernard Hickey ·

2025/03/04

In summary today: PM Christopher Luxon is increasingly at odds with leaders in other countries in saying he trusts Donald Trump and the United States as reliable partners, despite this week’s tariffs and alliance swaps that have shocked and alarmed both New Zealand’s allies and global financial markets.Meanwhile, Luxon is also being criticised as being out of touch with his support of David Seymour’s school lunch programme, which potential Luxon replacement and Education Minister Erica Stanford

17:39

An administered, unnecessary & counter-productive...

The Kākā by Bernard Hickey ·

2025/03/03

Long stories short, my top six news items in Aotearoa’s political economy around housing, climate and poverty on Tuesday, March 4 are:* The Government is widening its drive to turn public capital and investment costs into consumer price inflation that the Reserve Bank has to control with high interest rates.* In recent days a rash of Government-controlled and driven price setters have signalled double-digit rises in prices, rates and fees in the next couple of years, due to the Government’s drive to

6:57

Why the housing market is just not firing up

The Kākā by Bernard Hickey ·

2025/03/02

Long stories short, my top six news items in Aotearoa’s political economy around housing, climate and poverty on Monday, March 3 are:* The first national housing market data for February show new listings falling as unsold stock levels hit their highest levels in nearly 10 years, indicating an extension of the great standoff between buyers and sellers in the engine room of the economy is depressing sales volumes and selling prices. * One reason for the lack of fresh credit-fuelled demand is rental

63:10

The Hoon around the week to Feb 28

The Kākā by Bernard Hickey ·

2025/02/27

The podcast above of the weekly ‘Hoon’ webinar for paying subscribers on Thursday night features co-hosts Bernard Hickey & Peter Bale talking about the week’s news with regular and special guests, including:* Robert Patman on the week in geopolitics, including Donald Trump’s wrecking of the post-WW II politicial landscape; and,* Cathrine Dyer on the week in climate news, including what Joe Rogan gets wrong about climate change, how the transport lobby screws the scrum of energy and climate policy in

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