- - - - - - - - - - - - -

Monday, July 22, 2013

Crumbling away

The EQNZ fund cannot take another hit after Christchurch.   The fund is being used to pay the Europeans for reinsurance rather than accumulating as an actual fund - such are the circumstances of the depletion.  These Wellington quakes will be sending shivers through these markets - our premiums just went up.  And every sod with home insurance from Auckland north - where there is no historical risk of earthquakes - is basically covering it.  It's looking wobbly, perhaps unsustainable, and given the risk profile meaning the safe north is massively subsidising the unsafe south - inequitable.

The capital was moved from Auckland in 1865 to Wellington, which sits right on top of the main fault line.  The question now is: knowing that the city is in the worst possible location for earthquakes why should the rest of the nation (ie. Aucklanders) have to bail out the inevitable?  Isn't it time to impute the known risks on a regional basis?  Auckland's exposure to volcanoes is the counter-argument, but that will be difficult to make as there at least would be a forewarning and a period to mitigate damage - something that doesn't exist with earthquakes.

Wellington is - without exaggeration - crumbling into the sea. I have no abiding affection for the town or indeed most of its people, so I don't find the destruction upsetting or regrettable in the way it is for Christchurch - that's just the way it is.  So get over it, just pay for it yourselves.


At 23/7/13 3:09 am, Anonymous Anonymous said...

Wow, what began as a fairly standard whine quickly became possibly the single most callous and dismissive shit I've ever heard you say. Seriously. This is some shit I'd expect out of the mouths of an Act/National voter. Replace "Wellington" with "Beneficiary", "Auckland/Rest of the Country" with "Taxpayers", and this could be a fucking NZ Herald column. What the actual fuck, Tim? I cannot honestly believe the lack of empathy I am seeing from you here.

As someone who survived both Christchurch quakes and now lives in Wellington, I can safely say go fuck yourself. I don't have any "abiding affection" for say, Aucklanders, but if a Super-volcano or something emerged I sure as hell would find the destruction upsetting and regrettable.

Your blog just lost a subscriber.

At 23/7/13 9:47 am, Blogger Tim Selwyn said...

Having the experiences I've had in Wellington you should believe the lack of empathy is quite justified. People moving from Chch to Wellington because of earthquakes don't rate much on the sympathy scale either - what did you expect in Welly?

Problem is no-one in government, because they are Wellingtonians, have planned, or will plan to move in the event of a catastrophic earthquake striking Wellington. Everyone else - including the long-suffering punters in Chch will have to stump up for this. And the next one, and the one after that - forever. Don't worry - all the whining in these events will be from the Wellingtonians should they have to pay their way.

At 25/7/13 10:59 am, Anonymous Anonymous said...

@ anonymous: couldn't agree more.If your other posts are as rancorous as this one, Mr Selwyn, no wonder you attract so few comments.

I won't be back, either, but before I decamp, I'd like to point out that, in respect of volcanic activity, you're wrong. Volcanoes can erupt with little - or, for all practical purposes - no warning. There's no way for vulcanologists to predict where the next eruption will be in Auckland: only that there will be one. Moreover, recent research on Rangitoto - the newest of Auckland's volcanoes - has determined that it erupted more or less continuously for about 1000 years. Now that'll make a big mess of your infrastructure, won't it! So you really aren't in any better a position than quake-prone Wellington, are you?

Speaking of said infrastructure, I hope that you take your own advice. Stop whining about the cost and expecting the rest of us to chip in. And good luck with that rail tunnel, especially if the builders dig into an old fumarole during its construction.

At 25/7/13 2:18 pm, Anonymous Perry said...

Last time I looked, all of Cabinet's BSDs were Aucklanders.

So not so much of the "Government is Wellington" JAFA whine. That's just ill-informed, as well as malicious.

And the rest of New Zealand has been paying for Auckland crime and Auckland motorways and Auckland TV since the year dot, so stow it.

I'm not reading your petulant spite-filled opinions any more, either. Way to go.

At 5/8/13 11:38 am, Anonymous Mark Disappointed said...

After reading the "Crumbling away" post, and having followed your blog for a number of years, I am disappointed you have decided to lower the quality of your writing from actual engaging political critique & comment to that of an angry nasty bitch.
I used to come here regularly to read & enjoy the perspectives & ideas you shared but with a wealth of other better choices now I can't see any reason to revisit here now your best bloggers are gone and all you can do is write like a dick. I must thank you for for your many engaging posts of the past but my time is better spent reading meaningful blogs with good writing & interesting ideas rather the ravings of someone who has lost their touch.
Get a job, travel, raise children, protest, open a cafe, make art, build a marae, there are so many great things you can do with your time but blogging is clearly not something you are any good at anymore, good luck on your next endeavour.

At 6/8/13 10:31 am, Blogger Tim Selwyn said...

You are all Wellingtonians I take it.

You won't find much support for Wellington outside of it, despite what you might think. Probably as much loved as Aucklanders. Was at Trentham once and even the people in the Hutt didn't seem that keen on Wellingtonians. My experiences of the Wellingtonians around service issues and attitude have given me a poor impression of them generally. Wellingtonians evidently believe they are the nation - just look at Te Papa, Auckland doesn't exist - and many seem to believe their purpose is governance and not so much about service, which would explain why they get so upset when their bubble of unreality is threatened by facts as plain as the fault line along the motorway that goes right under parliament. I'm not being nasty in this post I'm being an actuary. Swarms of earthquakes is a valid reason to bring these issues up including touching upon the mentality of the people who will control the purse strings in the event it strikes.

Over the last 50 years while you have been commuting into downtown Wellington in electric trains paid for by the government did you ever once think: shouldn't a city three times this size be given the same priority? Aucklanders aren't responsible for decades of under-funding in favour of provincialism. As for paying for Auckland... Who do you think funds Wellington? If there is a net loss for any city or region it would not be bigger than Wellington with the concentration of non-productive but highly paid government staff. You can't count the Todd interests either as most of their income derives from their special relationship with government that allows exploitation of national resources - you shouldn't include that. As for crime, the directors responsible for the $800m shortfall of the $1.6b handed over to South Canterbury Finance are before the court in Timaru this morning.

Mark: You must be a woman by the way you write. I've done most of your suggestions already, but it was a secondhand bookshop, not a cafe. You can see me building a marae here:
Been there, done that, love.


Post a Comment

<< Home