Fear of global slowdown as oil price soars

Stock markets around the world were braced for fresh falls today despite attempts by the G7 leading industrial nations and the International Monetary Fund to boost confidence after Friday’s plunge in share prices on Wall Street.The IMF’s key policy-making committee said at the weekend that the recent turmoil in financial markets would lead to slower […]

‘Definite end’ to housing boom

The housing market boom will come to a “definite end” next year and the Kiwi dollar may rise back to US81c because of higher interest rates, economists predict. Independent economics group Infometrics’ latest forecast picks the Reserve Bank to raise official interest rates twice, to 8.75 per cent, within the next six months to hold […]

US stocks: Tumble on Wall Street

US investors saw their stock portfolios scorched today as oil prices rallied amid heightened tensions between Turkey’s government and Kurdish rebels located in northern Iraq. The Dow Jones Industrial Average dropped a hefty 71.29 points (0.51 per cent) to a preliminary close of 13,913.51. The Nasdaq composite slid 16.14 points (0.58 per cent) to 2,763.91 […]

Monster wind farm would be one of world’s biggest

While I greatly applaud wind energy (coming from the flat windy low-lands of Holland) in local sustainable wind farms that accommodate small communities and don’t affect the environment to the point of destruction, I fail to see why these monstrosities have to do with a sustainable society. They don’t replace dirtier forms of energy, they […]

Geneva investor repayments stopped

Geneva Finance has stopped repaying investors, owed more than $112 million, as it struggles to remain afloat. The Auckland-based company plans to ask its 4500 investors to agree to a repayment moratorium of 612 months, as it tries to stabilise its position. International credit rating agency Standard and Poor’s immediately dropped its long-term rating of […]

Northern Rock Bailout: Why Central Bankers Can’t Have Integrity

It is said that a banker is osmeone who gives you an umbrella when the sun shines, but wants it back when it starts to rain.(travellerev) Poor Mervyn King. The man is the head of the Bank of England. He was just trying to do the right thing. When the credit crisis began this summer […]

Prices edge up – but house sales fall away

Home-owners have been hit by a triple whammy as latest figures reveal a dramatic slowdown in the market. According to latest figures, prices are rising only fractionally, homes are taking longer to sell, and sales have plummeted to a six-year low. The Real Estate Institute, which released the statistics, remained upbeat, saying the slide in […]

More debt better than more tax – National

Read this article and than watch the video “Money is debt” and you will understand why the National party, lead by an investment banker would say this. Maybe you will draw the conclusion like me that John Key is still serving his old masters: the money masters. He should of course be serving us, the people of […]