The Hoon

The podcast above of the weekly ‘Hoon’ webinar for paying subscribers on Thursday night featured co-hosts Bernard Hickey & Peter Bale talking with regular guests Cathrine Dyer and Robert Patman about geopolitics, the economy, climate change and politics here, along with special guest historian and author Jonathan Lyons.This week:* Bernard and Peter began with a discussion about deaths of a record 129 journalists reported in 2025 by the Committee to Protect Journalists, mostly in Gaza, and the risks of it worsening in an extended war in the Middle East.* Bernard and Peter talked about New Zealand’s lack of resilience to the closure of the Strait of Hormuz for both diesel and fertiliser.* Bernard, Peter and Cathrine talked about the impending dropping of clean car standards and the connections between war and climate change.* Bernard, Peter, Robert and Jonathan talked about the implications from the widening war in the Middle East, including Israel’s role and Iran’s history.Jonathan has written these books on Iran: The House of Wisdom: How the Arabs Transformed Western Civilization, and, Islam Through Western Eyes: From the Crusades to the War on Terrorism.The Hoon’s podcast version above was recorded on Thursday night during a live webinar for over 200 paying subscribers and was produced and edited by Simon Josey. The Hoon won the silver award for best current affairs podcast in last year’s New Zealand Podcast awards. (This is a sampler for all free subscribers and anyone else who stumbles on it. Thanks to the support of paying subscribers here, we’re able to spread my public interest journalism here about housing affordability, climate change and poverty reduction other public venues. Join the community supporting and contributing to this work with your ideas, feedback and comments, and by subscribing in full. Remember, all students and teachers who sign up for the free version with their .ac.nz and .school.nz email accounts are automatically upgraded to the paid version for free. Also, here’s a couple of special offers: $3/month or $30/year for under 30s & $6.50/month or $65/year for over 65s who rent.)Ngā mihi nui.Bernard 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

This week I hosted a ‘Hoon’ on Substack Live previewing The Reality of Everything symposium to be held at Victoria University of Wellington on June 26, which will examine the interconnected crises of climate change, energy, water & food constraints, economic instability & public health.I was joined by regular Hoon guest Cathrine Dyer, substacker and symposium facilitator Catherine Knight, conference speaker and epidemiologist Professor Alistair Woodward from the University of Auckland, and fellow public health specialist Associate Professor Caroline Shaw from the University of Otago.We started by talking about the need for the Symposium and referring to the National Emergency Briefing held in the UK last year, including an address by Professor Hugh Montgomery, a Professor of Intensive Care Medicine at University College London. The video of his address is below via Youtube.We talked about the intersection of public health and climate change, emphasizing the urgent need for a comprehensive approach to public health in the face of climate, resource and economic crises. We talked about tobacco control as a precedent for health policy, the social determinants of health, and the benefits of e-bikes. The conversation concludes with recommendations for policymakers to prioritize health and well-being in climate action.Here’s Catherine’s substack post announcing the conference.And a follow-up post with the latest details.Here’s the chapters in the video above:00:00 Introduction to the Reality of Everything Symposium02:43 Understanding the Interconnected Crises05:36 Climate Change and Health Risks07:18 Tobacco Control as a Model for Climate Action11:41 Social Determinants of Health and Climate Change15:29 Transport, Health, and Climate Change Solutions18:10 Rethinking Emergencies and Public Health19:05 Transport Policies and Health Implications21:20 Access Over Infrastructure: A New Perspective22:19 The Hidden Health Costs of Transport24:23 E-Bikes: A Healthier Alternative25:34 Policy Solutions for Health and Climate Change29:18 Public Health as Climate Action31:48The Economic Case for Climate ActionThank you Susan St John, Mike Joy, Paul Singh, Melanie, Brian Rathbone, and many others for tuning into my live video! 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

This week a speculative post on Substack by Citrini about ever-faster AI tools creating a self-reinforcing doom loop of fewer jobs & lower wages for humans -- while AI owners win big -- shook global stocks. A link to the post is below.So I decided to have a Substack Live with Ben Reid, who writes about tech and AI for Memia. The resulting chat is above.Thank you James Wilkes, Nicola Francis, Summerhaze, David, Elaine, and many others for tuning into my live video with Ben Reid! 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

The podcast above of the weekly ‘Hoon’ webinar for paying subscribers on Thursday night featured co-hosts Bernard Hickey & Peter Bale talking with regular guests Cathrine Dyer and Elaine Monaghan about geopolitics, the economy, climate change and politics here, along with special guest Associate Professor Polly Atatoa Carr from Waikato University’s Te Ngira Institute for Population Research.This week:* Bernard and Peter debated the Clerk of Parliament deciding to stop using X.* Bernard and Cathrine talked about a paper showing climate policy inconsistency depresses economic growth and employment, along with another paper showing the social cost of carbon at over US$1,000/tonne, and a survey for The Post-$ showing voters here want flood protection projects, rather than motorways.* Peter and Elaine talked about covering autocracies in Eastern Europe and Donald Trump’s State of the Union address.* Bernard, Peter and Polly talked about how the Government’s ‘move-on’ orders are likely to affect young homeless people, and why ramping up Housing First by even more would be a better solution. The Hoon’s podcast version above was recorded on Thursday night during a live webinar for over 200 paying subscribers and was produced and edited by Simon Josey. The Hoon won the silver award for best current affairs podcast in last year’s New Zealand Podcast awards. (This is a sampler for all free subscribers and anyone else who stumbles on it. Thanks to the support of paying subscribers here, we’re able to spread my public interest journalism here about housing affordability, climate change and poverty reduction other public venues. Join the community supporting and contributing to this work with your ideas, feedback and comments, and by subscribing in full. Remember, all students and teachers who sign up for the free version with their .ac.nz and .school.nz email accounts are automatically upgraded to the paid version for free. Also, here’s a couple of special offers: $3/month or $30/year for under 30s & $6.50/month or $65/year for over 65s who rent.)Ngā mihi nui.Bernard 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

Independent economist David Skilling gave a stark public presentation to Treasury officials and others yesterday that painted a brutal picture of New Zealand’s labour productivity and real wage catastrophe since 2010, pointing out our economy remained stuck in a low-investment rut with weakening trade connections.Skilling’s presentation in video form below is a must-watch and should be seen as a landmark moment ‘calling b******t’ on at least three decades of economic reforms focused on squeezing down the size of Government and keeping capital gains tax free at all costs.I spoke with David in a Substack Live this morning, referencing his presentation below.Thank you Ant O'Brien, Michael Sharpe, Steve Glicken, MD, James Wilkes, John Smart, and many others for tuning into my live video with David Skilling! 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

The podcast above of the weekly ‘Hoon’ webinar for paying subscribers on Thursday night featured co-hosts Bernard Hickey & Peter Bale talking with regular guests Robert Patman and Cathrine Dyer about geopolitics, the economy, climate change and politics here, along with special guests Simplicity Chief Economist Shamubeel Eaqub and Coalition for More Homes Spokesman Scott Caldwell.This week:* Bernard, Peter and Cathrine talked about the week’s news in climate change, including criticism of the Government’s climate non-action by outgoing Tower Insurance Chair Michael Stiassny, Marc Daalder’s piece for Newsroom on climate preparedness, the US move to wipe out a climate change finding and remove all regulation of emissions, and the impending shutdown of the Ministry of the Environment here.* Bernard, Peter and Robert talked about Donald Trump’s ‘coercive’ approach to diplomacy with Iran, and the risk of imminent US strikes on Iran, which would trigger damaging Iranian counter-attacks on Israel.* Bernard, Peter, Shamubeel and Scott talked about Chris Bishop’s watering down yesterday of housing intensification plans in Auckland and the Infrastructure Commission’s final 30-year plan presented earlier this week.The Hoon’s podcast version above was recorded on Thursday night during a live webinar for over 200 paying subscribers and was produced and edited by Simon Josey. The Hoon won the silver award for best current affairs podcast in last year’s New Zealand Podcast awards. (This is a sampler for all free subscribers and anyone else who stumbles on it. Thanks to the support of paying subscribers here, we’re able to spread my public interest journalism here about housing affordability, climate change and poverty reduction other public venues. Join the community supporting and contributing to this work with your ideas, feedback and comments, and by subscribing in full. Remember, all students and teachers who sign up for the free version with their .ac.nz and .school.nz email accounts are automatically upgraded to the paid version for free. Also, here’s a couple of special offers: $3/month or $30/year for under 30s & $6.50/month or $65/year for over 65s who rent.)Ngā mihi nui.Bernard 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

The podcast above of the weekly ‘Hoon’ webinar for paying subscribers on Thursday night featured co-hosts Bernard Hickey & Peter Bale talking with New Zealand journalist Andrew Gunn in Kiev and Rewiring Aotearoa CEO Mike Casey in central Otago.We talked about:* Bernard’s time at the NZ Association of Economists’ forum at the University of Waikato on Thursday and Friday;* Nicola Willis’ announcement of a new inquiry into the RBNZ’s actions over Covid;* The Government’s announcement of a levy on all electricity consumers to pay for LNG import infrastructure;* Whether solar panels and batteries would do a better job than LNG.The Hoon’s podcast version above was recorded on Thursday night during a live webinar for over 200 paying subscribers and was produced and edited by Simon Josey. The Hoon won the silver award for best current affairs podcast in last year’s New Zealand Podcast awards. (This is a sampler for all free subscribers and anyone else who stumbles on it. Thanks to the support of paying subscribers here, we’re able to spread my public interest journalism here about housing affordability, climate change and poverty reduction other public venues. Join the community supporting and contributing to this work with your ideas, feedback and comments, and by subscribing in full. Remember, all students and teachers who sign up for the free version with their .ac.nz and .school.nz email accounts are automatically upgraded to the paid version for free. Also, here’s a couple of special offers: $3/month or $30/year for under 30s & $6.50/month or $65/year for over 65s who rent.)Ngā mihi nui.Bernard 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

The podcast above of the weekly ‘Hoon’ webinar for paying subscribers on Thursday night featured co-hosts Bernard Hickey & Peter Bale talking with regular guests Cathrine Dyer and Robert Patman, along with special guest David Farrar, talking about his Op-Ed in the The Post-$ arguing it’s time New Zealand became the seventh state of Australia.We talked about:* The water treatment plant problems in Christchurch and Wellington;* The gutting of the Washington Post’s newsroom;* The effects of climate change on biodiversity, including the deaths of dugongs in Thailand, the deaths of bats in Western Australia, the freezing of iguanas in Florida;* Insurance retreat in New Zealand; and,* Rare earth minerals and a possible deal between New Zealand and the US;The Hoon’s podcast version above was recorded on Thursday night during a live webinar for over 200 paying subscribers and was produced and edited by Simon Josey. The Hoon won the silver award for best current affairs podcast in last year’s New Zealand Podcast awards. (This is a sampler for all free subscribers and anyone else who stumbles on it. Thanks to the support of paying subscribers here, we’re able to spread my public interest journalism here about housing affordability, climate change and poverty reduction other public venues. Join the community supporting and contributing to this work with your ideas, feedback and comments, and by subscribing in full. Remember, all students and teachers who sign up for the free version with their .ac.nz and .school.nz email accounts are automatically upgraded to the paid version for free. Also, here’s a couple of special offers: $3/month or $30/year for under 30s & $6.50/month or $65/year for over 65s who rent.)Ngā mihi nui.Bernard 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

The podcast above of the weekly ‘Hoon’ webinar for paying subscribers on Thursday night featured co-hosts Bernard Hickey & Peter Bale talking with regular guests Cathrine Dyer and Robert Patman, along with special guest historian and author Jonathan Lyons.We talked about:* Likely issues in Election 2026 due on November 7, including anti-migration comments from Winston Peters and his comments backing Donald Trump on withdrawing from the World Health Organisation;* The dramas this week in Global Financial Markets around the reserve currency status of the US dollar and another stalling in the New Zealand economy;* The fallout from this month’s extraordinary weather events made worse by unaddressed climate change, and some solutions, including this EECA report on shifting power demand off-peak and this Manu Caddie post;* Donald Trump’s latest threats to attack Iran, along with the history of revolutions in Iran and the situation there now, including Jonathan and Robert. Jonathan has written these books on Iran: The House of Wisdom: How the Arabs Transformed Western Civilization, and, Islam Through Western Eyes: From the Crusades to the War on Terrorism.The Hoon’s podcast version above was recorded on Thursday night during a live webinar for over 200 paying subscribers and was produced and edited by Simon Josey. The Hoon won the silver award for best current affairs podcast in last year’s New Zealand Podcast awards. (This is a sampler for all free subscribers and anyone else who stumbles on it. Thanks to the support of paying subscribers here, we’re able to spread my public interest journalism here about housing affordability, climate change and poverty reduction other public venues. Join the community supporting and contributing to this work with your ideas, feedback and comments, and by subscribing in full. Remember, all students and teachers who sign up for the free version with their .ac.nz and .school.nz email accounts are automatically upgraded to the paid version for free. Also, here’s a couple of special offers: $3/month or $30/year for under 30s & $6.50/month or $65/year for over 65s who rent.)Ngā mihi nui.Bernard 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

The podcast above of the weekly ‘Hoon’ webinar for paying subscribers on Thursday night featured co-hosts Bernard Hickey & Peter Bale talking with regular guests Cathrine Dyer and Robert Patman, along with special guests Auckland University Emeritus Professor Jane Kelsey and intensive care specialist Dr David Galler.We talked about:* Likely issues in Election 2026 due on November 7, including anti-migration comments from Shane Jones in the wake of protests against rockpool harvesting (RNZ) and the economy’s struggle to generate growth most can feel;* This week’s extraordinary weather events made worse by unaddressed climate change, including this new UK paper on the environment and national security and the measures that should be taken to make Aotearoa more resilient;* Trump’s latest rupturing of the global world order, including Mark Carney’s speech at Davos and Donald Trump’s latest threats to invade Greenland;* How New Zealand adapts to the law of the jungle; and,* What’s happening in our health system, and how to improve it, including discussions about this Andrea Black paper, this Deloitte paper and the launch this week of Kaitiaki Hauora, which is a national coalition of workers, iwi, union, and advocacy groups wanting to strengthen public health that includes David Galler.Jane Kelsey has written these pieces for The Conversation on geopolitics so far this year:* Trump is threatening more tariffs over access to critical minerals – will NZ be targeted?* The World Trade Organization is on life support. Will Trump’s new rules finish it off?Robert Patman has written this piece for The Conversation this year: * As Trump rewrites the rules in Venezuela, NZ faces a foreign policy reckoningThe Hoon’s podcast version above was recorded on Thursday night during a live webinar for over 200 paying subscribers and was produced and edited by Simon Josey. The Hoon won the silver award for best current affairs podcast in last year’s New Zealand Podcast awards. (This is a sampler for all free subscribers and anyone else who stumbles on it. Thanks to the support of paying subscribers here, we’re able to spread my public interest journalism here about housing affordability, climate change and poverty reduction other public venues. Join the community supporting and contributing to this work with your ideas, feedback and comments, and by subscribing in full. Remember, all students and teachers who sign up for the free version with their .ac.nz and .school.nz email accounts are automatically upgraded to the paid version for free. Also, here’s a couple of special offers: $3/month or $30/year for under 30s & $6.50/month or $65/year for over 65s who rent.)Ngā mihi nui.Bernard 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

The podcast above of the weekly ‘Hoon’ webinar for paying subscribers on Thursday night featured co-hosts Bernard Hickey & Peter Bale talking with regular guests Cathrine Dyer and Robert Patman.We talked about:* US President Donald Trump’s attack on the US Federal Reserve’s independence and why it matters to us;* RBNZ Governor Anna Breman’s defence of the Fed’s independence;* NZ First Leader and Foreign Minister Winston Peters’ criticism of Breman, despite his votes in favour of central bank independence over the years;* How Trump’s strike on Venezuela is upending ever more global norms;* record-high sea temperatures and how climate change is already a major part of the affordability story; and,* a rocky election year ahead of misinformation in the absence of 3News, Sunday, Fair Go and a larger number of climate journalists.The Hoon’s podcast version above was recorded on Thursday night during a live webinar for over 200 paying subscribers and was produced and edited by Simon Josey. The Hoon won the silver award for best current affairs podcast in last year’s New Zealand Podcast awards. (This is a sampler for all free subscribers and anyone else who stumbles on it. Thanks to the support of paying subscribers here, we’re able to spread my public interest journalism here about housing affordability, climate change and poverty reduction other public venues. Join the community supporting and contributing to this work with your ideas, feedback and comments, and by subscribing in full. Remember, all students and teachers who sign up for the free version with their .ac.nz and .school.nz email accounts are automatically upgraded to the paid version for free. Also, here’s a couple of special offers: $3/month or $30/year for under 30s & $6.50/month or $65/year for over 65s who rent.)Ngā mihi nui.Bernard 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

The podcast above of the weekly ‘Hoon’ webinar for paying subscribers on Thursday night featured co-hosts Bernard Hickey & Peter Bale talking with regular guests Cathrine Dyer and Robert Patman.Our special guests this week were Philippa Yasbek, who heads Gun Control NZ and Doyen: NZ Jews Against Occupation, and Lee Feinstein, former US ambassador to Warsaw and senior diplomat under Democratic administrations, Dean of the Hamilton Lugar School of Global and International Studies at Indiana University Bloomington, long-serving board member of the United States Holocaust Memorial Museum.The Hoon’s podcast version above was recorded on Thursday night during a live webinar for over 200 paying subscribers and was produced and edited by Simon Josey. The Hoon won the silver award for best current affairs podcast in last year’s New Zealand Podcast awards. (This is a sampler for all free subscribers and anyone else who stumbles on it. Thanks to the support of paying subscribers here, we’re able to spread my public interest journalism here about housing affordability, climate change and poverty reduction other public venues. Join the community supporting and contributing to this work with your ideas, feedback and comments, and by subscribing in full. Remember, all students and teachers who sign up for the free version with their .ac.nz and .school.nz email accounts are automatically upgraded to the paid version for free. Also, here’s a couple of special offers: $3/month or $30/year for under 30s & $6.50/month or $65/year for over 65s who rent.)Ngā mihi nui.Bernard 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

The podcast above of the weekly ‘Hoon’ webinar for paying subscribers on Thursday night featured co-hosts Bernard Hickey & Peter Bale talking with regular guests Cathrine Dyer and Robert Patman and special guest Sanjana Hottotuwa about the importance and meaning of Donald Trump’s new US National Security Strategy document for Aotearoa and the world.The Hoon’s podcast version above was recorded on Thursday night during a live webinar for over 200 paying subscribers and was produced and edited by Simon Josey. The Hoon won the silver award for best current affairs podcast in last year’s New Zealand Podcast awards. (This is a sampler for all free subscribers and anyone else who stumbles on it. Thanks to the support of paying subscribers here, we’re able to spread my public interest journalism here about housing affordability, climate change and poverty reduction other public venues. Join the community supporting and contributing to this work with your ideas, feedback and comments, and by subscribing in full. Remember, all students and teachers who sign up for the free version with their .ac.nz and .school.nz email accounts are automatically upgraded to the paid version for free. Also, here’s a couple of special offers: $3/month or $30/year for under 30s & $6.50/month or $65/year for over 65s who rent.)Ngā mihi nui.BernardPS: Here’s a cookie recipe Peter recommends. Apropos of some good news. 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

The podcast above of the weekly ‘Hoon’ webinar for paying subscribers on Thursday night featured Bernard Hickey talking with regular guest Cathrine Dyer and special guest Lawyers for Climate Change Executive Director Jessica Palairet about this weeks news on climate change. Bernard also talked with tax policy expert and accountant Terry Baucher about the IRD’s announcement yesterday it wants to tax company loans to shareholders as dividends if they’re not repaid within a year. As of March 31, 2024, 119,000 companies are owed $28 billion by 165,000 shareholders. Terry has a podcast on Interest.co.nz.The Hoon’s podcast version above was recorded on Thursday night during a live webinar for over 200 paying subscribers and was produced and edited by Simon Josey. The Hoon won the silver award for best current affairs podcast in last year’s New Zealand Podcast awards. (This is a sampler for all free subscribers and anyone else who stumbles on it. Thanks to the support of paying subscribers here, we’re able to spread my public interest journalism here about housing affordability, climate change and poverty reduction other public venues. Join the community supporting and contributing to this work with your ideas, feedback and comments, and by subscribing in full. Remember, all students and teachers who sign up for the free version with their .ac.nz and .school.nz email accounts are automatically upgraded to the paid version for free. Also, here’s a couple of special offers: $3/month or $30/year for under 30s & $6.50/month or $65/year for over 65s who rent.)Ngā mihi nui.Bernard 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

The podcast above of the weekly ‘Hoon’ webinar for paying subscribers on Thursday night featured co-hosts Bernard Hickey and Peter Bale talking with regular guests Cathrine Dyer and Robert Patman and a special guest about the economy, politics, geopolitics and climate change.This week’s special guest was new leader of The Opportunity Party, Quilae Wong.This week:* Bernard and Peter talked with Quilae ‘Q’ Wong about The Opportunity Party’s name change, her background, her ambitions, the party’s land tax policy, the ‘Abundance’ agenda and the issue of wasted votes.* Bernard and Peter talked with Robert about Donald Trump and Vladimir Putin’s latest attempt to railroad Ukraine into a capitulation, along with Europe’s reaction.* Bernard and Peter talked with Cathrine about New Zealand giving up on phasing out fossil fuels (Marc Daalder’s piece in Newsroom), the abandonment of a big carbon capture scheme ( Kate Newton’s piece for RNZ), and Kirsty Johnston’s deep-dive for RNZ about the oil and gas industry capturing the Government’s climate policies.* Bernard talked about the RBNZ’s rate cut and the economy’s outlook, along with the tragic loss of the first contributory pension scheme in 1975.The Hoon’s podcast version above was recorded on Thursday night during a live webinar for over 200 paying subscribers and was produced and edited by Simon Josey. The Hoon won the silver award for best current affairs podcast in last year’s New Zealand Podcast awards. (This is a sampler for all free subscribers and anyone else who stumbles on it. Thanks to the support of paying subscribers here, we’re able to spread my public interest journalism here about housing affordability, climate change and poverty reduction other public venues. Join the community supporting and contributing to this work with your ideas, feedback and comments, and by subscribing in full. Remember, all students and teachers who sign up for the free version with their .ac.nz and .school.nz email accounts are automatically upgraded to the paid version for free. Also, here’s a couple of special offers: $3/month or $30/year for under 30s & $6.50/month or $65/year for over 65s who rent.)Ngā mihi nui.Bernard 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

The podcast above of the weekly ‘Hoon’ webinar for paying subscribers on Thursday night featured co-hosts Bernard Hickey and Peter Bale talking with regular guests Cathrine Dyer and Robert Patman and a special guest about the economy, politics, geopolitics and climate change.This week’s special guest was Drive Electric Chair Kirsten Corson.This week:* Bernard and Peter talked about Peter’s work on a CEO profile special series of articles for BusinessDesk-$, including that Brian Roche’s favourite book was by Jo Nesbo.* Bernard, Peter and Cathrine talked about the Government’s decision this week to slash penalties for importing high emissions vehicles to save buyers of double-cab utes hundreds of dollars.* Peter and Robert talked about Donald Trump’s attacks on the rules of international law, referring to this article by Philippe Sands in The Guardian. They also talked about the latest secret peace deal for Ukraine agreed between the United States and Russia, but which didn’t include Ukraine or Europe.* Bernard and Kirsten talked about the state of climate policy in the wake of the shredding of the clean car discount scheme.The Hoon’s podcast version above was recorded on Thursday night during a live webinar for over 200 paying subscribers and was produced and edited by Simon Josey. The Hoon won the silver award for best current affairs podcast in last year’s New Zealand Podcast awards. (This is a sampler for all free subscribers and anyone else who stumbles on it. Thanks to the support of paying subscribers here, we’re able to spread my public interest journalism here about housing affordability, climate change and poverty reduction other public venues. Join the community supporting and contributing to this work with your ideas, feedback and comments, and by subscribing in full. Remember, all students and teachers who sign up for the free version with their .ac.nz and .school.nz email accounts are automatically upgraded to the paid version for free. Also, here’s a couple of special offers: $3/month or $30/year for under 30s & $6.50/month or $65/year for over 65s who rent.)Ngā mihi nui.Bernard 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

The podcast above of the weekly ‘Hoon’ webinar for paying subscribers on Thursday night featured co-hosts Bernard Hickey and Peter Bale talking with regular guest Cathrine Dyer, and a special guest about the economy, politics, geopolitics and climate change.This week’s special guest was The IDEA Charitable Trust’s Max Rashbrooke Our topics this week were:* Bernard and Peter talked about the BBC’s crisis.* Bernard, Peter & Cathrine talked about the COP30 conference and Cathrine’s article on it for The Conversation. * Bernard, Peter and Max talked about IDEA’s proposal for a Kids Kiwisaver.* Bernard, Peter and Max talked about Max’s column for The Spinoff this week on how the left’s arguments against the Government’s debt aversion aren’t working, and what ‘jujitsu’ tactic might work better.The Hoon’s podcast version above was recorded on Thursday night during a live webinar for over 200 paying subscribers and was produced and edited by Simon Josey. The Hoon won the silver award for best current affairs podcast in this year’s New Zealand Podcast awards. (This is a sampler for all free subscribers and anyone else who stumbles on it. Thanks to the support of paying subscribers here, we’re able to spread my public interest journalism here about housing affordability, climate change and poverty reduction other public venues. Join the community supporting and contributing to this work with your ideas, feedback and comments, and by subscribing in full. Remember, all students and teachers who sign up for the free version with their .ac.nz and .school.nz email accounts are automatically upgraded to the paid version for free. Also, here’s a couple of special offers: $3/month or $30/year for under 30s & $6.50/month or $65/year for over 65s who rent.)Ngā mihi nui.Bernard 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

The podcast above of the weekly ‘Hoon’ webinar for paying subscribers on Thursday night featured co-hosts Bernard Hickey and Peter Bale talking with regular guests Robert Patman and Cathrine Dyer, and a special guest about the economy, politics, geopolitics, climate change, New York’s new mayor Zohran Mamdani, the gutting of Aotearoa’s Zero Carbon Act this week and revelations the Government is ‘move-on order’ legislation to allow Police to move homeless people out of CBDs for a day.This week’s special guest was Auckland City Missioner Helen Robinson.Our topics this week were:* Bernard, Peter & Robert talked about the election of New York Mayor Zohran Mamdani and what it means politically inside, and potentially outside, the United States. * Bernard and Peter talked about this week’s climate change policy changes with Cathrine.* Peter and Robert talked about the latest crisis in Sudan.* Bernard, Peter and Helen talked about this week’s ‘move-on order’ news around homelessness in our CBDs.The Hoon’s podcast version above was recorded on Thursday night during a live webinar for over 200 paying subscribers and was produced and edited by Simon Josey. The Hoon won the silver award for best current affairs podcast in this year’s New Zealand Podcast awards. (This is a sampler for all free subscribers and anyone else who stumbles on it. Thanks to the support of paying subscribers here, we’re able to spread my public interest journalism here about housing affordability, climate change and poverty reduction other public venues. Join the community supporting and contributing to this work with your ideas, feedback and comments, and by subscribing in full. Remember, all students and teachers who sign up for the free version with their .ac.nz and .school.nz email accounts are automatically upgraded to the paid version for free. Also, here’s a couple of special offers: $3/month or $30/year for under 30s & $6.50/month or $65/year for over 65s who rent.)Ngā mihi nui.Bernard 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

I spoke with Simplicity Co-Founder Sam Stubbs about plans announced this morning to launch InfraKiwi, an NZX-listed vehicle funded from KiwiSaver and borrowing to buy new and existing infrastructure such as water companies, lines companies, airports, ports, hospitals, roads, public transport operators and schools from the Government and councils.Stubbs sees an oppotunity to use upwards of $295 billion of KiwiSaver funds available over the next 25 years to kick-start a ramping up of investment in building, rebuilding and properly maintaining the infrastructure needed for Aotearoa to grow.The problem we’re trying to solve is how do we get all this KiwiSaver money into the infrastructure that we use and operate and get good risk-adjusted returns for investors, for KiwiSaver members, and the public generally. And how do you generate also economic growth and jobs and get the infrastructure built that we need? Simplicity Co-Founder Sam Stubbs.InfraKiwi would be seeded by an investment from Simplicity, but open through the NZX for all New Zealand-based investors and funds to invest in a company buying and running infrastructure assets the Government and councils chose not to own or invest in over the long run. It would be able to borrow on its own behalf to buy existing assets, often shortly after they were built, and then own them over the long-run for stable dividends to investors.In my view, it creates a pathway for the Government and Councils to solve the problem they currently believe they have, which is:* they need to borrow and invest to build and properly run infrastructure to cater for still-fast population growth; but,* they don’t want to take the debt onto the Crown’s or council balance sheets because they fear it will increase interest rates and leave future taxpayers vulnerable if there is a new financial or physical economic shock.The solution pursued by both National-led and Labour-led Governments over the last 30 years is to try to get the private sector to fund the building and running of the assets, either by selling them individually in whole or partially to local investors or foreign investors (Air New Zealand, BNZ, Telecom, Genesis, Mighty River/Mercury, Meridian, Contact etc), or trying to structure Infrastructure Funding and Financing deals and Public Private Partnerships to get private funders to do the borrowing, investing, building and owning of the assets (Wiri Prison, Transmission Gully).The trouble is, in my view, these deals are so complicated, slow, expensive and subject to political, market and technical risks that they don’t happen often fast enough or at the necessary scale to solve Aotearoa’s $30 billion-a-year infrastructure deficit.InfraKiwi doesn’t want to take on the risks of initially funding or building new assets, but sees itself assuring any Government or Council it would buy the asset once built for a certain price, giving Governments, ratepayers and taxpayers some assurance that they wouldn’t be stuck with the long-term debt. In my view, this process does solve a big current problem that funds building up in KiwiSaver, NZ SuperFund and ACC very fast are running out of things to buy in New Zealand, but New Zealand Governments feel they ‘can’t afford’ to build the infrastructure needed to grow and solve many of our deficits. I think it’s a solution that’s more expensive for taxpayers in the long run, but does reduce the risks of creating new dividend or interest cost streams and drains in our current account deficit from sales to foreign owners or borrowing internationally.If Governments of both flavours persist, as they are now, in believing they have to constantly drive the size of Government/GDP and Debt/GDP back down below 30%, then this is better than the alternative of pretending or promising to invest to cope with population growth, climate change and ageing, but never actually doing it. I have published this article and the video interview above for all to read and watch as part of my public interest mandate covering our political economy. Paying subscribers support this work. You can too by subscribing. A lightly edited transcript of our conversationThis a lightly-edited and cut-down version of our 30 minute conversation above for brevity and clarity. A PDF of the presentation referred to in the conversation above is attached below.I firstly asked Sam what InfraKiwi would be and what problem it was trying to solve.“We have this massive infrastructure deficit in New Zealand. The Infrastructure Commission says it’s $210 billion. It’s a massive amount of money and a lot of work. And yet on the other side, we have already $130 billion worth of KiwiSaver money saved,” Sam said. “And our economist, Shamabeel Eaqub, has calculated that in 25 years, if KiwiSaver managers keep their investments in New Zealand at 30%, we will have another $295 billion to invest in New Zealand. The problem with that is that there’s kind of nothing to invest in. It’s very hard to commit a lot of money in that way. So it tends to go overseas. And when it’s invested overseas, that’s fine. You still get the returns, but you don’t generate the jobs or the economic growth than if you have it invested domestically.”NZ shareholders only and with a Golden ShareSam said he and others had spent two years iterating 50 versions of the fund.“We’ve landed on setting up a company called Infra Kiwi. So, Infra for infrastructure, Kiwi for KiwiSaver and Iwi. We’re trying to create a vehicle that makes it as easy as possible for all New Zealanders, KiwiSaver managers, individuals, to invest in infrastructure via this company,” he said.“The intention is that it will be New Zealand-only shareholders. So foreign investors not required or offshore capital not required in this case, because there’s so much there. That will then allow Kiwi to buy what we would call sensitive assets that might otherwise be unavailable for sale to offshore owners and own and operate it for the long term.“I don’t want a New Zealand where we’ve saved hundreds of billions of dollars in KiwiSaver and it’s building roads in Aussie. I want that money building roads and buying power stations and operating the water here in New Zealand and creating jobs here and creating growth here.” Sam StubbsSimplicity would start by making the initial seed investments and then once it got to a critical mass it would list on the stock exchange, be restricted to New Zealanders, and have a ‘Golden Share’ preventing it from being sold to single and/or foreign interests.“That means it’s liquid. It means all KiwiSaver managers can invest in it. It means the nature and purpose of the company couldn’t change now you and I are old enough to know the Fay Richwhite issue, which is to slice and dice these assets for the benefit of few to the cost of many.“The nature and purpose of the company remains the same over the long term. And then it invests in operating infrastructure. So it’s not interested in building the power station, but it might be interested in buying it once it’s built. And then it focuses on very long-term ownership and operational efficiency. And if it’s existing old infrastructure, additional capital will refurbish or maintain the infrastructure as well. But it’s all about owning. “I’d like this to be the biggest and most boring company in the country. Which means that it’s really big. It addresses that huge pool of money that New Zealanders will have now to invest in what we need. And it just focuses on owning and operating these assets for the very, very long term.”‘It won’t take big development risks’ Sam says InfraKiwi wants to own and operate assets, rather than develop them, to make it easier to value on the stock market.“It’s not taking big development risk But the other thing it could do is go to governments and say if you build it, we’ll buy it, and that means it’ll actually get built, because it’ll be a contract between the government and the community to get this thing built. I then asked about the potential scale of InfraKiwi and who could invest.“It’s designed for people to participate in several ways. Once the company lists on the stock exchange, Simplicity will step away and be just another shareholder. So it will operate as its own independent company, own board of directors. But because it’s listed on the stock exchange and hopefully big enough to be in the index, all the other KiwiSaver funds will be able to buy it. And typically, if it’s in the index, they will own it so they’ll own at least a benchmark position,” he said.“So people could participate via their KiwiSaver funds, in the sense all KiwiSaver managers are investing in it. Or, because it’s listed on the stock exchange, if you are a New Zealander, registered New Zealander, for investment purposes, then you can buy and sell shares directly as well. So you could buy and sell it directly via your broker or Sharesies or any platform that sells individual shares as well. So the idea is to make it very broadly available.”‘We’re not interested in PPP-style financial engineering’Sam said he’d been in talks with the NZX and Standard & Poor’s to make sure InfraKiwi could only have New Zealand shareholders, which meant it would be able to buy sensitive assets that no one else could for the long term.“We’re not interested in doing what a lot of PPPs want to do, which is financially engineer the acquisition so that they can exit within a fairly short period of time and have made a lot of money,” he said.“What we want to do is make a very fair return over a long period of time, which is fair to the investors and the company, but also means that the vendor of the asset knows that you’re not trying to basically maximize return because these are community assets, they’re sensitive assets. Some of them will never make enough money to ever be investable propositions. So for example, a regional airport that only has two or three flights a day is probably unlikely to ever be an economic asset.

The podcast above of the weekly ‘Hoon’ webinar for paying subscribers on Thursday night featured co-hosts Bernard Hickey and Peter Bale talking with regular guests Robert Patman and Cathrine Dyer, and a special guest about the economy, politics, geopolitics, climate change, The Kākā’s future and how to fund the building of social housing by Community Housing Providers (CHPs) and others.This week’s special guest was Home Capital Partners CEO James Stewart.We talked about:* The Kākā’s future after Bernard published a State of The Kākā Nation report for 2025 showing falling subscription revenues and the loss of the sponsor for the weekly When The Facts Change podcast via The Spinoff.* The release of the first comprehensive and nationwide flood maps forecasting how climate warming of one degree, two degrees and three degrees would affect households and infrastructure in the event of one-in-one-hundred-year floods.* Bernard, Peter & Cathrine also talked about the potential for community assemblies to agree solutions to climate adaptation and mitigation.* Robert Patman talked with Bernard and Peter about this week’s meetings between Donald Trump and Xi Jinping, and Donald Trump and Christopher Luxon.* James Stewart talked about Home Capital Partners’ launch of its new Home Capital Partners’ $185 million fund to accelerate building of over 250 medium density affordable and social homes.* Bernard and Peter then talked about Labour’s Capital Gains Tax proposal.The Hoon’s podcast version above was recorded on Thursday night during a live webinar for over 200 paying subscribers and was produced and edited by Simon Josey. The Hoon won the silver award for best current affairs podcast in this year’s New Zealand Podcast awards. (This is a sampler for all free subscribers and anyone else who stumbles on it. Thanks to the support of paying subscribers here, we’re able to spread my public interest journalism here about housing affordability, climate change and poverty reduction other public venues. Join the community supporting and contributing to this work with your ideas, feedback and comments, and by subscribing in full. Remember, all students and teachers who sign up for the free version with their .ac.nz and .school.nz email accounts are automatically upgraded to the paid version for free. Also, here’s a couple of special offers: $3/month or $30/year for under 30s & $6.50/month or $65/year for over 65s who rent.)Ngā mihi nui.Bernard 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