House prices surge ahead of pay

The cost of buying a home has blown out to a record high. In August it took 81.6 per cent of a median weekly income to pay the mortgage on a median-priced house. That is more than twice the amount considered affordable, according to the latest Fairfax Media home loan affordability report. That makes the […]

Warning issued on Geneva Finance

By DAVID HARGREAVES – Fairfax Media | Tuesday, 11 September 2007Auckland-based consumer finance company Geneva Finance faces a possible future downgrade of its credit rating because of “increasing pressure” on its liquidity and funding, international credit ratings agency Standard & Poor’s said today. “We believe that there is a possibility that current financial market disruptions […]

Banks face 10-day debt timebomb

By Iain Dey, Sunday Telegraph Last Updated: 12:02am BST 10/09/2007 Britain’s biggest banks could be forced to cough up as much as £70bn over the next 10 days, as the credit crisis that has seized the global financial system sparks a fresh wave of chaos. The credit crunch is really hitting home Small businesses risk being […]

Is China Dumping the U.S. Dollar?

September 10, 2007 | From theTrumpet.com Questions loom whether China is behind recent dollar sales—if it is, America’s way of life is about to change. The only question is how badly and how fast. By Robert MorleyThe U.S. dollar is standing at the edge of a cliff, and most people don’t even know it. Data […]

Are The Banks In Trouble?

By Mike Whitney      “The new capitalist gods must love the poor – they are making so many more of them.” Bill Bonner, “The Daily Reckoning”   “The hope of every central bank is that the real problem can be kept from public view. The truth is that the public—even professionals on Wall Street—have no […]

Sidney expects violent demonstrations

Journalists in Australian and New Zealand newspapers today speak feverishly of the worst ever violence to be expected in Sidney.(By the way the articles are exactly the same and show all the more that New Zealand’s main newspapers are now corporately owned and our news is managed and no longer independent.) John Howard blames the […]

U.S. Stock Market Falls on Employment & Housing Data

Posted by Kate Incontrera on Sep 6th, 2007 The Dow, the S&P and the NASDAQ all suffered their first losses in three days at market open this morning.The drop was caused by not-so-good employment and housing data, and on the news that short-term interest rates in Europe rose to the highest since January 2001. Although […]

Domino effect as another finance firm goes under

By VANESSA PHILLIPS – The Nelson Mail | Thursday, 6 September 2007Email a Friend | Printable View | Have Your SayRelated Links • Subscribe to Archivestuff • Have your say Advertisement AdvertisementAnother Nelson finance company, with links to failed firm LDC Finance, has nosedived into receivership, owing $16 million to investors. Long-established Tahunanui-based Finance and […]

Aussie senator calls Bush ‘dunderhead’

Greens Party leader Senator Bob Brown An outspoken Australian politician has called US President George W. Bush a ‘dunderhead’ for sending troops to Iraq. Bush, whose five-day visit has placed Australia’s biggest city Sydney under a security lockdown, spent the day in talks with Prime Minister John Howard. Meanwhile, Greens Party leader Senator Bob Brown […]

Pro-Bush Group Allowed, Protest Group Banned at APEC

Paul Joseph Watson Prison Planet Wednesday, September 5, 2007 A pro-Bush organization have been allowed to demonstrate within the 3-mile-wide security cage that has been erected around the business district in Sydney for the APEC summit, while authorities have banned other protest groups from even marching up to the police line outside in a brazen […]

Sydney : Inside ‘The Cage’

“We’re Like A Bunch Of F*cking Rats In A Maze!” The ‘steel wall’ goes up only metres from the Sydney Opera House. Report And Photos By Darryl Mason On the outside of the ‘steel wall’ stretching five kilometres through the centre of Sydney, it looks like a fence. A three metre high, concrete reinforced fence. […]

The New Zealand Economy is Sinking While Financial Assets Soar

At first glance, New Zealand appears to enjoy the same “hot money” problem as emerging economies such as Thailand. There, global investors have been driving the currency higher by flooding the country with money. But the problem for New Zealand is that its own investors and consumers refuse to hold cash over anything else. The Reserve Bank […]

House prices in some areas may fall as much as 50%

By Finfacts Team Sep 3, 2007, 07:01 US homes may lose as much as half their value in some US cities as the housing bust deepens, according to Yale University professor Robert Shiller. Meanwhile, Martin  Feldstein of Harvard University says that experience suggests that the dramatic decline in residential construction provides an early warning of […]

USA 1984 has arrived

Big Brother USA: Surveillance Via “Tagging, Tracking, and Locating” The Militarization of U.S. Public Service Agencies by Laurel Federbush Global Research, September 3, 2007 According to the 2005 Strategy for Homeland Defense and Civil Support, “the terrorist enemy now considers the US homeland a preeminent part of the global theater of combat, and so must […]

Electoral bill limits free speech – lawyers

By Maggie Tait Election spending row Government open to suggestions for electoral finance reform. Criticism of the Government’s Electoral Finance Bill has continued to mount with an article in a law magazine saying it proposes “misguided and chilling” limits on free speech which breach the Bill of Rights. Writing in NZLawyer, Bell Gully partner Roger […]