Brett Christophers: Reason for caution over BlackRock investment | Q+A 2023

Economist Brett Christophers joins Q+A live to talk about the concerns around the announcement that Black Rock will invest $2bn in renewable electricity generation in New Zealand, and what they’ll be hoping to get out of it
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[@johnnypenhale5743]

Black rock is not for nz

[@markreynolds6220]

in it 4 u

[@user-mc6js8or3r]

Pounamu hard out ❤

[@catherinesyme901]

And we were called conspiracy theorist when we asked WHY Jacinda was at black rock! We are in real trouble!

[@mikesievers1482]

Blackrock has been in NZ for years now, so, this really isn't news. They've been involved in the banking sector with the likes of westpac, ASB, ANZ and of course the kiwi saver scheme. So why tell us now?. We didn't see any 6 O'clock headline news before.

[@Steven38790]

Remember it was John key that put us in debt for a flag change lol

[@kjr2868]

This guy hits the Nail right on the head!! A few people will get very rich the rest of us will be left fighting over the crumbs. Climate change financing has become the new money maker on the block for the 1%!!

[@andym1134]

It's a scam, period.

[@NormanMacritchie-bv3ju]

Volcano change climate world wide 40 or 50 eruting every week ,like in Antarctica,theynew one l

[@NormanMacritchie-bv3ju]

The labour party green are destroyed newzeand climate change,no do with human..crap,

[@kjr2868]

@@NormanMacritchie-bv3ju I agree with you. In fact I read somewhere that much of the surface temperature of our oceans is influenced by subterranean volcanic and tectonic plate movements!

[@NormanMacritchie-bv3ju]

Climate change be happening sense time began,I agree bank world wide make money at our expense

[@tigertiger1699]

Isn’t black rock accused of war crime etc in Iraq??

[@TheWhoreologist]

Blackwater security

[@adriandocherty778]

They are investing in the rebuilding of Ukrain after the war!!

[@roberthooker4970]

It would be good to have this guy and National and Act have three way discussion.

[@annekevandenberg1635]

Black "Basil Fawlty" Rock...Don't mention the war, oil, petrol, details...

[@ooo-vc4xl]

Even if the private sector undertakes the investment, taxpayers or users still end up paying. It’s a BS way of keeping the cost off the books and taxes down. Put an asset management company in charge of a monopoly infrastructure asset and all they will do is value strip it.

[@glendagger5003]

Rich people getting richer and people having higher power bills and left to clean up the mess -Transfer of wealth from the tax payer to the elites

[@roberthooker4970]

Garys economics a uk guy says the same.

[@andreatodd3095]

I am concerned about who will own the renewable energy source after it's sold off, will we have to borough more to buy it back or are we going to be held to ransome by any overseas company who buy's it. We need ALL the information as NZ citizens, the opposition need to put a hold on it until after the election, and the new gvt coming in need to look at all other options through a new lens.

[@overover..]

Iwi

[@ruslingmcgehan7137]

NZ built all of our major infrastructure when we had half the population we have today and without the technology and modern building machinery. We are paying 2x at least more in takes so what BS spending are the taxes being used for especially when petrol is $3/litre. Blackrock should not have been required, but our leaders created the need for their intervention

[@roberthooker4970]

It is in part a change since 1970. Neo liberal policy in the UK and the USA which moved to NZ. Some of ideas in the 1970s by National didn't quite workout. But gave a licence to sell things off.

[@markreynolds6220]

muldoon was admittedly opposed to asset sales as he was a economic nationalist, neolibralism commenced under langes labour @@roberthooker4970

[@peteburgoyne9594]

The end result is we will pay more for power!

[@angelab9819]

So why couldnt the government of nz do this in stead of black rock crazy

[@kevinmckay1955]

Forty years ago we switched from fiat money creation to private bank created credit, this along with small government and privatisation of infrastructure services (telecommunications,electricity generation,rail). It is that private bank created money and the speculation it produced that resulted in the GFC. We think that we need private capital to invest in our energy transition or that Governments need to borrow from private sources. But money creation is public function and we can create fiat money - as long as we also manage/ reduce private bank credit creation to ensure overall spend is not inflationary. It’s important that we divert money creation from speculation towards the productive uses that will protect our energy future, and that we work to reduce our overall consumption to reflect planetary boundaries. In that regard renewables are not a panacea, given they rely on carbon based manufacture. We should also recognise that oil will remain central to all economies as we attempt the transition. The outcome from the transition and from peak oil (less available oil but increasing demand - GDP, population growth) will be a less productive world as energy/resources become less available. We need plan that secures NZs energy future with as much independence as we can achieve.

[@erwerwewerwer4575]

er................ has anyone asked what the actual deal entails??? a lot of talk, but details???

[@petervanbeek752]

BlackRock is only going to win with this deal! I wonder in a few years from now is going to be accountable for the mistake that being made today? Nobody!! The taxpayer is going to pick up the bill!!

[@roberthooker4970]

He talks about things Garys Econmonic discuss. Recall our banks are Australian owned but in turn they owned by USA and the UK or Europe.

[@buildmotosykletist1987]

In summary: Blackrock and Blackstone are evil don;t go anywhere near them.

[@jamieboynton1185]

Don't they own this channel...?!?

[@roberthooker4970]

Back 1890s to 1910 we built nz rail and major rds with government borrowing.

[@wangharry2294]

Wellington needs a bigger shopping centre more attractions for tourists and younger people to come and stay.

[@roberthooker4970]

When you hear this guy. You know why the house build in houses in 1930s by the government was good along with the dams.

[@waynefredricson6584]

How about joining BRICS & drop supporting American policies for good puppies.

[@hwrh51]

All he has proved is that Asset Investment Management Companies around the world now have dealings and contracts with countries everywhere NZ is not the first nor will it be the last country to deal with foreign capital as Luxon has already said he will look for if he wins govt .Renewable Energy is increasingly being taken up by "modern economies " around the world ,no business operates without investment and return ,we know taxpayers end up paying so this is where companies attempts to minimise their taxes ,and moving their profits offshore must be penalised by a "wealth tax" .

[@zabaleta66]

You are blind! Corporate feudalism will be our lot!

[@retimixshotcrete5870]

No way , NO BLACK ROCK , criminals!

[@geraldperyman6535]

The reason we need Blackrock is the modern trend to consistantly reduce taxation.Less taxation,less effective government.

[@mikevincent6332]

I dont want communists being more "effective" with my taxes

[@ooo-vc4xl]

False. Taxpayers or users still end up paying. Also private capital requires a higher return than government borrowing.

[@geraldperyman6535]

@@ooo-vc4xl Well another trend is for govt. to not be involved in big infrastructure,Act wants private companies to build big roads ,God knows what else.

[@CHewittMedia]

You know these Blackrock criminals buy up whole residential neighbourhoods don't you? They will utterly destroy NZ and they are here to manipulate our stupid, naive leaders. Why do you think there's so much tax when you have complete buffoons running the country such as a finance minister with an arts degree and a fish n chip shop worker as in the case of the former PM. Get rid of the idiots in govt, replace them with skilled, educated competent people and we would start steering this country back in the right direction.

[@dontcomply3976]

Reduced taxation? Are you living in a parallel universe?

[@roberthooker4970]

Asset managers as this guy points out are an example of neo liberal policy. Life changed since 1970.

[@thenzlander7605]

1984 in NZ

[@roberthooker4970]

@@thenzlander7605 yes that is when it reached NZ and Australia almost at same time..

[@roberthooker4970]

If we think back to 1975 election and danger of large funds managers. We can see it is happening and reflects neo liberal policies.

[@thenzlander7605]

Please explain the date 1975

[@ngatiarihi8502]

@@thenzlander7605 the rising of Muldoon in NZ ?

[@Master-ng9uj]

BlackRock, not Black Rock. Please have this guy on again, even via video, and more like him. Well educated, yet you could just as easily have this conversation with him over a pint.