Wages up so where’s the money gone?

Workers on the average wage are at the centre of a political row after figures show thousands of dollars in pay rises have been whittled back to a few hundred by higher taxes and inflation. A “Joanna Average” is at the centre of the tussle, with National’s figures showing she is only $500 a year […]

$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 […]

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 […]

American Economy: R.I.P.

Paul Craig Roberts was Assistant Secretary of the Treasury in the Reagan administration. He was Associate Editor of the Wall Street Journal editorial page and Contributing Editor of National Review. He is coauthor of The Tyranny of Good Intentions. A lifelong Republican.  By Paul Craig Roberts 09/10/07 “ICH’ — — The US economy continues its […]

Worst crisis for 20 years, say banks

LEADING bankers are warning of the worst crisis in the money markets for 20 years, which will come to a head this week when $113 billion (£57 billion) of commercial paper – market IOUs – comes up for refinancing. This huge refinancing, mainly through London, exceeds the $100 billion that became due in mid-August, and […]

Showdown time as Clark heads to Apec

Showdown time as Clark heads to Apec By TRACY WATKINS in Sydney – The Dominion Post | Friday, 7 September 2007Prime Minister Helen Clark arrives in Sydney today to unprecedented security and a showdown over nuclear power. As police prepare for a big protest march tomorrow, expected to attract 20,000 people, Sydney-siders are reporting security […]