ISIS truck convoy Anbar Province

John Key Visits Obama During Iraq Crisis. Will NZ Soldiers Die For A UN Security Council Seat ?

It is no secret that John Key wanted to send soldiers to Iraq in 2005. He wanted to do so in order to get more trade and be in with the bog boys. Never mind it was the little guys in army fatigues who would have to die  there is need be. Here he is […]

Interview with an investment banker

Just in case you missed it. Investment bankers bet and speculate. In other words they are making money with money. When the banking world was about to collapse because the bet on packets of junk bonds, and were about to be caught out on it they changed their tack. They now bet and speculate on […]

The Mortgage Mogul and His Victims

As banks, money markets and stock exchanges convulse over a sinking American economy, we see the folks sprawled at the bottom of the smoking rubble — debt-crushed American consumers. It is they whose reckless or trusting natures enriched so many, at least for a while, and whose troubled loans have sent markets into panic. But […]

Udate: US recession fears wipe £77bn from London shares

London’s FTSE 100 fell to an 18-month low as markets took a dim view of President Bush’s plan to fight off a US downturn Patrick Hosking and Leo Lewis About £77 billion was wiped from UK blue chip share values this morning as fears of a US recession reverberated around the globe, sending the FTSE […]

Oil bonanza set to make NZOG millions

The Tui oilfield, off the Taranaki coast, is almost a third bigger than thought – news that pushed up partner New Zealand Oil and Gas’ share price 11 cents to $1.12. The oil reserves for the field are now put at 41.7 million barrels, up from the previous estimate of 32 million barrels. Getting about […]

Report: Bonuses paid for dropping sick patients

John Key stated that if elected National would promote privatised care for the elderly.(Travellerev)  A health insurance company serving customers in a half-dozen states set out to drop hundreds of customers and paid lucrative bonuses to an executive in charge of eliminating coverage. One customer is suing the company, Health Net Inc., after a company salesman […]

Taranaki oil spill exposes southern oceans risk: Greens

In fact it would be prefect if it wasn’t for those Greenies pointing out obvious risks.  Greens Party co-leader Jeanette Fitzsimons says a Taranaki oil spill should ring alarm bells in Government about the potential risks and costs of mooted oil exploration in the Great South Basin. Work on cleaning up tar balls discovered on […]

The Scourge of Global Inflation is Rising Again

The U.S. dollar is weak, at $1.42 to the Euro;  oil prices are rising, at $86 a barrel;  the gold price is rising, at $756 an ounce.  These are all signs that the risk of global inflation, the scourge of the 1970s, is rising again. In The Daily Telegraph for Monday, October 15th, Ambrose Evans […]

Peters won’t rule National out.

Despite several weeks of blistering criticisms of National, New Zealand First leader Winston Peters says his party could work with them after the next election. Read more

Sub-prime crisis: Is it over?

When the sub-prime crisis rocked world markets on July 27, New Zealand’s sharemarket followed the same dismal path as Wall Street. It sank almost 10 per cent in less than a month. But the NZX-50 index stopped just short of a fresh closing high on Tuesday and overseas markets have also recovered. The sorry episode […]

The Worst Recession in 25 years?

By Robert P. Murphy Posted on 10/1/2007 [Subscribe or Tell Others] << Previous Story | Index | Next Story >> On September 18 the Fed cut its target for the fed funds rate by 50 basis points (0.5 percentage points), from 5.25% to 4.75%. The move surprised many analysts who had been expecting a more […]

New bank registered in New Zealand

JPMorgan Chase Bank has been registered as a bank in New Zealand, the Reserve Bank said. JPMorgan Chase Bank is incorporated in New York and will operate a branch in New Zealand. It intends to only operate in the wholesale market and will not have a retail business. There are now 17 registered banks in […]

Asia’s biggest state-owned investment company opens

China Investment Corp., the nation’s US$200 billion ($246 billion) sovereign wealth fund, has started operations as the Government seeks to boost returns on the world’s biggest foreign-exchange reserves. The investment agency will come under the direct supervision of the nation’s cabinet, the State Council. Lou Jiwei, former vice finance minister, will act as director and […]

Corn-to-Ethanol: US Agribusiness Magic Path To A World Food Monopoly

by Charles E. Carlson Global Research, September 29, 2007 Eight years of Biofuels (ethanol) policy and legislation has cemented in place the first world wide food cabal, which promises a humanitarian disaster, a famine more serious than those caused by any tsunami, earthquake or drought. This crisis is not in the dim future, it is […]

Defense stocks hit new highs

I wonder how much of John Key’s $50 mill. are invested in these companies. Or in Rio Tinto, or some of the other big Corporations currently vying for NZ resources (Exxon, Shell etc). And I also wonder if Kiwi’s want to elect a man who may not wish to defend NZ’s best interests but instead those […]

Anger at Nat plan to boost GP fees

Lots of promises, lower tax for the rich, privatazation of healthcare (like in America) yep John Key and nats are finally showing their true colors Public health groups are angry at National Party plans to remove caps on doctors’ fees if it wins next year’s election. National announced yesterday it would scrap the Government’s controls […]

Alan Greenspan Reveals the Great Swindle of Central Banking

We live in an age of economic shocks, or an Age of Turbulence if you ask Alan Greenspan. Households have been encouraged to take on record amounts of debt during an historic low in interest rates. Now, as interest rates are set to rise, the value of assets purchased with debt will fall. There are […]

Borrowers told to lie about wages

  Some people have been advised to lie to buy a house A BBC investigation has found evidence of serious mis-selling in Britain’s sub-prime mortgage market. Industry insiders have described how people have been advised to lie about their incomes to take out loans far bigger than they can afford. Half of all sub-prime mortgages […]

$1.5b plan to sell state assets

By COLIN ESPINER – The Press | Tuesday, 25 September 2007 National is considering partial sales of state assets worth about $1.5 billion to fund projects such as roads and electricity transmission upgrades. Deputy leader Bill English yesterday gave more details of National’s plans to part-privatise state assets, despite a furious reaction by Labour to […]

Subprime Borrowers to Lose Homes at Record Pace as Rates Rise

By Bob Ivry Sept. 19 (Bloomberg) — As many as half of the 450,000 subprime borrowers whose mortgage payments increase in the next three months may lose their homes because they can’t sell, refinance or qualify for help from the U.S. government. “Short of the cavalry riding in over the hill, a lot of these […]

Taxpayers on the hook for $59 trillion

By Dennis Cauchon, USA TODAY The federal government recorded a $1.3 trillion loss last year — far more than the official $248 billion deficit — when corporate-style accounting standards are used, a USA TODAY analysis shows. The loss reflects a continued deterioration in the finances of Social Security and government retirement programs for civil servants […]

Chinese Stock Market Boom A Panic Waiting To Happen

Posted by Dan Denning on Apr 30th, 2007 Is China’s fantastic bull market just an extension of the world’s tawdry and very public love affair with cheap credit? We’ll begin to find out this week as the Bank of China again raised reserve requirements at commercial banks. This is meant to reduce bank lending in […]

Black day for shares as €4.5bn lost

By Brian O’Mahony, Chief Business Correspondent ON a black day for Irish shares a total of €4.5 billion was wiped off the value of the Irish Stock Exchange yesterday. Market sentiment was certainly not helped by fears that investors in one of Britain’s biggest mortgage lenders, Northern Rock, might lose their life’s savings as the […]

Real estate market ‘extremely quiet’

y Anne Gibson    A bank survey of residential real estate sector sentiment has presented a pessimistic picture, with many professionals saying the market has turned down fast. BNZ chief economist Tony Alexander released the monthly confidence survey this week. The survey went to 11,500 people, who were asked how their sector was going and […]

Interest rate increases have ‘gone too far’

The Reserve Bank has “definitely overdone” interest rate rises this year and should slash the rates in line with Australia, economic forecasting group Berl says. Instead of being on “perpetual inflation alert”, rates should be lowered to encourage investment, productivity improvements or business expansion, Berl says. “The psychotic fear of inflation is clouding the need […]

Rising Commodity Prices More Bad News for US Dollar

Posted by Dan Denning on Sep 14th, 2007 The moves in oil, gold, and even wheat are all telling us something. First, they’re telling us that the U.S. dollar is headed for the black pit of currency hell, where poorly managed fiat currencies go to suffer and die. And here’s a question for you: how […]

Investors to blame for not assessing the risks

The United States is not the only nation confronting a household debt crisis. We, too, have a subprime lending market and it is managed by our collective bag of finance companies. The collective sum of savings at risk in this sector is reported to be $16 billion. Put another way, that’s nearly a third of […]

Greenspan on 60 Minutes: It was all Bush’s fault

By Mike Whitney 09/17/07 “ICH” — – Alan Greenspan’s appearance on 60 Minutes was preceded with all the pomp and ceremony of a royal wedding. The public relations blitz dragged out for a whole week. What profound truisms would the elusive former-fed master divulge to the News Magazine’s withered-coquette, Leslie Stahl? Would he produce his […]