Crisis may make 1929 look a ‘walk in the park’

Meet some of John Key’s palls. And wonder if you want someone who adheres to the same principles is your first choice as Prime minister of New Zealand. As central banks continue to splash their cash over the system, so far to little effect, Ambrose Evans-Pritchard argues things are rapidly spiralling out of their control […]

National Debt Grows $1 Million a Minute

WASHINGTON (AP) — Like a ticking time bomb, the national debt is an explosion waiting to happen. It’s expanding by about $1.4 billion a day — or nearly $1 million a minute. What’s that mean to you? It means almost $30,000 in debt for each man, woman, child and infant in the United States. Even […]

Property overtakes manufacturing as biggest employer

New Zealanders not only spend most of their money on property, but looking after it has now outstripped manufacturing as the country’s biggest employer. Statistics New Zealand’s Linked Employer-Employee Data (LEED) series showed 238,200 people were employed in property and business services during the September 2006 year, up 3 percent from 2005. The manufacturing industry […]

Top-level leak of arms case evidence

Are “the powers that be” trying to manufacture consent for a wider, less discriminatory  anti terror law?(travellerev) Secret police evidence in the anti-terror case has been leaked in what appears to be a high level security breach, prompting calls for an inquiry. Crown lawyers last night stopped TV3’s Campbell Live from broadcasting evidence in files prepared […]

Titanium or Water? Trouble brews in Southern India

by Nityanand Jayaraman, Special to CorpWatch October 24th, 2007< More than 5,000 people converged this month in the southern Indian state of Tamil Nadu to protest a deal that set the stage for the state government to appropriate almost 10,000 acres of land and hand it over to Tata Steel Corporation, a subsidiary of India’s largest conglomerate. […]

US imposes sanctions on Iran

Are these to curtail Nuclear activity of to punish Iran for dumping the dollar? The Bush administration is imposing sweeping new sanctions against Iran’s defense ministry, its Revolutionary Guard Corps and a number of banks to punish them for purported support for terrorist organizations in Iraq and the Middle East, missile sales and nuclear activities, […]

Bush declares California emergency

 The world is burning, more storms in New Zeland with never before seen Tornados. Flooding is on the increase world wide due to increased storms, Billions of damage, coastal areas drowning, ecorefugee numbers rising but John Key says it is better to follow than to lead. Well, I guess now we know were National stands. They still […]

Terror raids suspect beaten in jail

A man arrested in the terror raids has been badly beaten in prison but is refusing to name his attacker. The Corrections Department confirmed that a prisoner – understood to be Jamie Lockett, who faces three Firearms Act charges – was taken to hospital after an assault but was now back in prison. He had […]

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 […]

Evidence ‘will judge raids’

Prime Minister Helen Clark says the police operation against alleged terrorists operating out of the Urewera training camps will be judged “on the strength of the evidence”, as fresh claims emerge. Among those claims yesterday was a report in the Sunday Star-Times that Miss Clark, Opposition leader John Key and US President George W Bush […]

Commercial Paper Market Could Lose US$500B by Thanksgiving

Bad economic booms tend to produce bad results…like runaway indebtedness and a plummeting currency. Do you happen to know of any large Western economy with these characteristics? Sometimes, the difference between a good boom and a bad boom is very subtle and subjective. A “bad boom,” for example, might simply be a good boom that […]

Japan and China lead flight from the dollar

Japan and China led a record withdrawl of foreign funds from the United States in August, heightening fears of a fresh slide in the dollar and a spike in US bond yields. The US requires $70bn a month in capital inflows to cover its current account deficit Data from the US Treasury showed outflows of […]

BNZ foresees soft landing but uncertainties reign

The Bank of New Zealand is forecasting a soft landing for the economy based on easing housing figures, but says there are no guarantees. “These are extraordinarily uncertain times. The domestic economy is being boosted by the stimulatory impact of easing fiscal policy and massive income growth accruing to the dairy sector, while being battered […]

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 […]

Why the US Central Bank Wants to Create Inflation, Destroy US Dollar

It’s the end of the world as we know it…and we feel fine! India is booming. China is booming. The latest news from the Middle Kingdom tells us that its trade surplus is rising at a 56% annual rate. Heck, even Argentina is booming. Its economy has been growing about three times faster than the […]

Income-Inequality Gap Widens

The richest Americans’ share of national income has hit a postwar record, surpassing the highs reached in the 1990s bull market, and underlining the divergence of economic fortunes blamed for fueling anxiety among American workers. The wealthiest 1% of Americans earned 21.2% of all income in 2005, according to new data from the Internal Revenue […]

Bush: Protectionism Will Cost U.S. Jobs

 WASHINGTON (AP) – Alarmed by slipping support for free trade even among Republicans, President Bush is arguing that protectionism will cut Americans out of chances for more – and better – jobs.Bush has launched a blitz on behalf of pending free trade pacts with four nations. He continued the push Saturday in his weekly radio […]

Geneva Finance gets ratings downgrade

Geneva Finance has been downgraded by credit ratings agency Standard & Poor’s from B+ to B-. Standard & Poor’s director Gavin Gunning said the change reflected a sense that Geneva’s short-term liquidity and funding position was increasingly under pressure. “While Geneva continues to benefit from the demonstrable support of its primary bankers, the nature and […]

Ron Paul on the transfer of wealth

Ron Paul, little known republican presidential candidate, in a televised debate. He explains how the privately owned Federal reserve uses inflation as a way to destroy the middle classes. John Key, in banking circles dubbed the “smiling assassin”, has been an advisor for exactly that federal reserve. His job? Telling the federal bank and its […]

“Rulers and Ruled in the US Empire”

James Petras is Binghamton University, New York Professor Emeritus of Sociology, whose credentials and achievements are long and impressive. He’s a noted academic figure on the left, a well-respected Latin American expert, and a longtime chronicler of the region’s popular struggles as well as being an advisor to the landless workers (MST) in Brazil and […]

The selling off of Canada. Will we bemoan the selling of of New Zealand when National starts to sell our assets.

At what point does Canada become a toy country? In August, the last of the major Canadian steel makers was sold to United States Steel Corporation for $1.1 billion. Earlier, Dofasco was sold to a European company which has since been swallowed up by Mittal Steel Co. of India. This latest foreign takeover is just […]

Economy boost delivers $8.7b surplus

Solid governance, prudent spending, are we going to through it al away with National and investment banker “Smiling assassin” John Key? New Zealand’s better than expected economic performance delivered the Government a $8.7 billion operating surplus for the 2006/2007 financial year, but Finance Minister Michael Cullen says it is still uncertain when any tax cuts will […]

Central Banks Erode World’s Work Ethic by Devaluing Money

What a relief. A day without a crisis. Everything seems to be “in crisis”. You’ve got a credit crisis, a housing crisis, a water crisis, a climate crisis, a dollar crisis, and somewhere, a 42-year old insurance salesman with a sense that something is missing in his life out buying a Porsche or having an […]

UK Money Supply Has Tripled Since 1997

Thomas McAnea was a drunk, an ex-con freed on a technicality and a failed businessman with barely “two pennies” to rub together, according to the Scottish police. He was also an expert forger, a specialist in faking holograms for official documents. And in January, ‘Hologram Tam’ – as his underworld clients knew him – was […]

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 […]

Half of NZ finance firms will go, says economist

Half of New Zealand’s finance companies are likely to disappear, according to ANZ/National Bank chief economist Cameron Bagrie. “I think we’re set for a real shake-out over the next 12 months,” he said. “The more marginal player is going to find it tougher,” he told the New Zealand Mortgage Brokers Association annual conference. “The weaker, […]

World Bank accused of razing Congo forests

The World Bank encouraged foreign companies to destructively log the world’s second largest forest, endangering the lives of thousands of Congolese Pygmies, according to a report on an internal investigation by senior bank staff and outside experts. The report by the independent inspection panel, seen by the Guardian, also accuses the bank of misleading Congo’s […]