Rapported to the electoral finance Committee

[quote=Baron Silas Greenback;112370]I feel it only fair to tell the OP that after reading your blog on John key and your clear agenda thinly disguised as research…I have reported you to the electroral commision as you have not clearly displayed your full name and address on your site. Best you correct that… as I am […]

Another finance company hits wall

A 15th finance company has hit the wall and is asking its debenture holders to vote on a 20-month wind down to stop it from going to the receivers. New Zealand property finance firm MFS Boston, an indirectly owned subsidiary of troubled Australian firm MFS, announced the moratorium proposal yesterday and will hold a meeting […]

Robot wars ‘will be a reality within 10 years’

The world is sleepwalking into an international robot arms race, a leading expert will warn today.   US forces recently deployed remote-controlled robots equipped with automatic weapons in Iraq Prof Noel Sharkey fears increased research and spending on unmanned military systems by countries including the US, Russia, China and Israel will lead to the use […]

New Zealand: Labour government dispatches SAS troops to Afghanistan

On Tuesday the 26th of February the European Parliament will screen the movie: Zero, call for an independent investigation of 9/11. After the screening they will debate this topic, with Herr von Beulow(German representative) Mr Fujita.(Japanese senator from the opposition party) David Ray Griffin (American 911 truth professor in theology) The three of home have […]

The U.S Financial System, the Debt Bubble and the Cancer of Excessive Deregulation

“It’s…poetic justice, in that the people that brewed this toxic Kool-Aid found themselves drinking a lot of it in the end.” Warren Buffett, American investor  “By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.” John Maynard Keynes (1883-1946)  “New money that enters the […]

Omens of recession seen in economy

New Zealand faces conditions that are eerily similar to those which preceded the 1998 recession, the Bank of New Zealand says. The bank is forecasting a slowdown, but not a recession, this year but it says the risks to the economic outlook are “massive”. “On top of a worsening global backdrop and a weaker-than-expected local […]

Wall Street Bank Run

It doesn’t look like an old-fashioned bank run because it involves the biggest financial institutions trading paper assets so complicated that even top executives don’t fully understand the transactions. But that’s what it is — a spreading fear among financial institutions that their brethren can’t be trusted to honor their obligations. Frightened financiers are pulling […]

Thousands of investors hit hard

The investments of many of the 380,000 people who have joined the KiwiSaver scheme have taken a battering with the dramatic slump in sharemarkets. New Zealand and world sharemarkets have taken a dive in the past fortnight after falls in the United States. Fears of a recession there and massive losses in US housing markets […]

The next credit tidal wave

Friday, 22 February 2008 The rocketing cost of protecting corporate bonds has shone a light on another arcane corner of the financial world – the $45trn (£23trn) market for credit default swaps (CDS). The cost of insuring the debt of US and European companies against default surged to all-time highs so that buyers of protection […]

German State-Owned Banks on Verge of Collapse

By Wolfgang Reuter The German government has had to bail out state-owned banks with taxpayers’ money after their managements recklessly gambled away billions on subprime investments. But if a state-owned bank were to go under, the consequences could be disastrous for the whole economy. AP The future is far from bright for Germany’s banks. Ingrid […]

The Next Slum?

Strange days are upon the residents of many a suburban cul-de-sac. Once-tidy yards have become overgrown, as the houses they front have gone vacant. Signs of physical and social disorder are spreading. At Windy Ridge, a recently built starter-home development seven miles northwest of Charlotte, North Carolina, 81 of the community’s 132 small, vinyl-sided houses […]

Housing Decline Will Put 10 Million Homeowners Upside Down, With More Mortgage Than House

While inflation is making most of the headlines, there’s news from the deflation side too. A headline tells us that homeowners are no longer remodeling as much as they used to. As expected, the people who hustle granite countertops are finally getting a rest. Poor General Motors…GMAC says it’s closing offices in the United States […]

The fall of a financial model

Recent changes in the world economy and financial markets mark the end of the present standard model of financial capitalism, built up over the last decade or so. In this model, financial stability is mainly based on the self-regulation of the financial sector, which alone assesses the risks produced by its financial innovations. Moreover, the […]

Dow down 146 on depressing data

Stocks closed lower Thursday, after a worse-than-expected report on business conditions in the mid-Atlantic region. News of a bulge in U.S. oil inventories sent oil stocks lower. The Dow Jones industrial average dropped 142.96, to 12,284.30. Boeing, Chevron and General Motors were the biggest contributors to the loss. Only three of the 30 Dow industrials […]

Credit crisis turmoil claims new victims

By Stephen Foley in New York and Sean Farrell Thursday, 21 February 2008 Losses resulting from the credit market turmoil – until now largely limited to the world’s biggest investment banks – are starting to be felt much more widely, by wealthy individuals, local government and even sports teams, presaging a new and potentially litigious […]

SFO looks into Blue Chip investment scheme

The Serious Fraud Office is looking into property investment business Blue Chip and asking for investors who have information to phone a call-free service. Grant Liddell, the SFO’s new director and chief executive, said staff had been investigating the business for more than a week. Investigations began last Wednesday, based on complaints made to the […]

‘Predator’ Fonterra in gun

“Predatory buying” allegations against dairy giant Fonterra have been lodged with the Commerce Commission. Waikato-based Open Country Cheese and the South Island company Dairy Trust, fledgling independents, told The Dominion Post their complaints alleged Fonterra was using its near-monopoly position to frustrate their efforts to get milk from farmers. The complaints centred on Fonterra paying […]