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	<title>Comments on: Reserve Bank drops OCR 1%</title>
	<atom:link href="http://thestandard.org.nz/reserve-bank-drops-ocr-1/feed/" rel="self" type="application/rss+xml" />
	<link>http://thestandard.org.nz/reserve-bank-drops-ocr-1/</link>
	<description>The New Zealand labour movement used to have its own newspaper. A group of us thought that now might be a good time for it to be digitally reborn: The Standard v2.0 - now in a new format The Standard v3.0</description>
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		<title>By: travellerev</title>
		<link>http://thestandard.org.nz/reserve-bank-drops-ocr-1/comment-page-1/#comment-97614</link>
		<dc:creator>travellerev</dc:creator>
		<pubDate>Fri, 24 Oct 2008 00:14:00 +0000</pubDate>
		<guid isPermaLink="false">http://www.thestandard.org.nz/?p=3932#comment-97614</guid>
		<description>Rave,

Nationalising the banks would be my sentiment too.

F*&amp;k bailing out the banks and let&#039;s make sure nobody has to loose their home to these bloodsuckers.

And now &lt;a href=&#039;http://www.cnbc.com/id/27337369&#039; rel=&quot;nofollow&quot;&gt;Alan Greenspan&lt;/a&gt; tells us he is shocked at the banksters greed and may have been just a teensy-weensy bit wrong about having the most greedy people let loose with the unregulated credit default swaps. 

To have this man who time time and again opened the money tap for yet another bubble tell us that he honestly believed that the banksters would not abuse this opportunity is just beyond the pale. 

Hell, If you believe that you&#039;ll believe anything and I&#039;ve got a rainforest in the Sahara desert that just so you.</description>
		<content:encoded><![CDATA[<p>Rave,</p>
<p>Nationalising the banks would be my sentiment too.</p>
<p>F*&amp;k bailing out the banks and let&#8217;s make sure nobody has to loose their home to these bloodsuckers.</p>
<p>And now <a href='http://www.cnbc.com/id/27337369' rel="nofollow">Alan Greenspan</a> tells us he is shocked at the banksters greed and may have been just a teensy-weensy bit wrong about having the most greedy people let loose with the unregulated credit default swaps. </p>
<p>To have this man who time time and again opened the money tap for yet another bubble tell us that he honestly believed that the banksters would not abuse this opportunity is just beyond the pale. </p>
<p>Hell, If you believe that you&#8217;ll believe anything and I&#8217;ve got a rainforest in the Sahara desert that just so you.</p>
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	<item>
		<title>By: Lampie</title>
		<link>http://thestandard.org.nz/reserve-bank-drops-ocr-1/comment-page-1/#comment-97222</link>
		<dc:creator>Lampie</dc:creator>
		<pubDate>Thu, 23 Oct 2008 01:57:00 +0000</pubDate>
		<guid isPermaLink="false">http://www.thestandard.org.nz/?p=3932#comment-97222</guid>
		<description>Ianmac

Bugger no luck, all I can find is 2007/08 from the Stats dept :(</description>
		<content:encoded><![CDATA[<p>Ianmac</p>
<p>Bugger no luck, all I can find is 2007/08 from the Stats dept <img src='http://thestandard.org.nz/wp-includes/images/smilies/icon_sad.gif' alt=':(' class='wp-smiley' /> </p>
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	<item>
		<title>By: Killinginthenameof</title>
		<link>http://thestandard.org.nz/reserve-bank-drops-ocr-1/comment-page-1/#comment-97130</link>
		<dc:creator>Killinginthenameof</dc:creator>
		<pubDate>Wed, 22 Oct 2008 23:19:31 +0000</pubDate>
		<guid isPermaLink="false">http://www.thestandard.org.nz/?p=3932#comment-97130</guid>
		<description>&quot;NeillR

With no incentive to get off the minimum wage&quot;

Pfft, nothing like ya know, more money?!</description>
		<content:encoded><![CDATA[<p>&#8220;NeillR</p>
<p>With no incentive to get off the minimum wage&#8221;</p>
<p>Pfft, nothing like ya know, more money?!</p>
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	<item>
		<title>By: Lampie</title>
		<link>http://thestandard.org.nz/reserve-bank-drops-ocr-1/comment-page-1/#comment-97125</link>
		<dc:creator>Lampie</dc:creator>
		<pubDate>Wed, 22 Oct 2008 23:05:31 +0000</pubDate>
		<guid isPermaLink="false">http://www.thestandard.org.nz/?p=3932#comment-97125</guid>
		<description>so if the labour cost input rises then the cost of that burger has to rise proportionally - which has occurred.

Gee clap clap, hmmm and if other overheads increase then the burger must remain the same cost?</description>
		<content:encoded><![CDATA[<p>so if the labour cost input rises then the cost of that burger has to rise proportionally &#8211; which has occurred.</p>
<p>Gee clap clap, hmmm and if other overheads increase then the burger must remain the same cost?</p>
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		<title>By: vidiot</title>
		<link>http://thestandard.org.nz/reserve-bank-drops-ocr-1/comment-page-1/#comment-97121</link>
		<dc:creator>vidiot</dc:creator>
		<pubDate>Wed, 22 Oct 2008 23:01:39 +0000</pubDate>
		<guid isPermaLink="false">http://www.thestandard.org.nz/?p=3932#comment-97121</guid>
		<description>&lt;b&gt;25+ degree water is getting beyond the survivable range for most aquatic life, apart from algae and weeds. There&#039;s a reason behind that regulation - do you think it&#039;s been put in for fun?&lt;/b&gt;

What they want to protect the Waikato Koi Carp ?

Hell why not allow them to output it at much higher levels, and pump that direct to the Hunua treatment plant instead ? Could be self treating Water, vs the Tuakau (built for emergency use only, ok sorry we got that wrong, it has to run all the time because plant is not designed to be stopped &amp; started) filtration plant.

Simple solution to both issues, but alas, nothing is ever thought out.</description>
		<content:encoded><![CDATA[<p><b>25+ degree water is getting beyond the survivable range for most aquatic life, apart from algae and weeds. There&#8217;s a reason behind that regulation &#8211; do you think it&#8217;s been put in for fun?</b></p>
<p>What they want to protect the Waikato Koi Carp ?</p>
<p>Hell why not allow them to output it at much higher levels, and pump that direct to the Hunua treatment plant instead ? Could be self treating Water, vs the Tuakau (built for emergency use only, ok sorry we got that wrong, it has to run all the time because plant is not designed to be stopped &amp; started) filtration plant.</p>
<p>Simple solution to both issues, but alas, nothing is ever thought out.</p>
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		<title>By: vidiot</title>
		<link>http://thestandard.org.nz/reserve-bank-drops-ocr-1/comment-page-1/#comment-97115</link>
		<dc:creator>vidiot</dc:creator>
		<pubDate>Wed, 22 Oct 2008 22:47:15 +0000</pubDate>
		<guid isPermaLink="false">http://www.thestandard.org.nz/?p=3932#comment-97115</guid>
		<description>So NeillR what you are saying is, that in the mid/late 80&#039;s you could buy a pie (from Georgie Pie, may they RIP) for $1 (and the staff were paid $4.25 an hour, yes I worked for them)  and now with the min-wage @ $12 odd, the same pie would have to be sold @ $3 to cover the labour cost ? It&#039;s either that or they have to sell a bulk load more pies, or worse make them out of &#039;offcuts&#039; (snout &amp; hoof) like the Aussies do, to bring the production costs down.</description>
		<content:encoded><![CDATA[<p>So NeillR what you are saying is, that in the mid/late 80&#8242;s you could buy a pie (from Georgie Pie, may they RIP) for $1 (and the staff were paid $4.25 an hour, yes I worked for them)  and now with the min-wage @ $12 odd, the same pie would have to be sold @ $3 to cover the labour cost ? It&#8217;s either that or they have to sell a bulk load more pies, or worse make them out of &#8216;offcuts&#8217; (snout &amp; hoof) like the Aussies do, to bring the production costs down.</p>
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		<title>By: Matthew Pilott</title>
		<link>http://thestandard.org.nz/reserve-bank-drops-ocr-1/comment-page-1/#comment-97114</link>
		<dc:creator>Matthew Pilott</dc:creator>
		<pubDate>Wed, 22 Oct 2008 22:47:12 +0000</pubDate>
		<guid isPermaLink="false">http://www.thestandard.org.nz/?p=3932#comment-97114</guid>
		<description>Vidiot, under the Evil RMA, about 1,700MW has been consented, and there&#039;s another 3,000MW under appeal or awaiting consent.  NZ&#039;s total capacity is only about 8,000MW so you can hardly say it&#039;s holding generation back.

Some info is &lt;a href=&#039;http://www.electricitycommission.govt.nz/pdfs/opdev/modelling/generation/Update-Aug2008.pdf&#039; rel=&quot;nofollow&quot;&gt;here&lt;/a&gt;.

Your case in point, Huntly, is a good example.  25+ degree water is getting beyond the survivable range for most aquatic life, apart from algae and weeds.  There&#039;s a reason behind that regulation - do you think it&#039;s been put in for fun?

NeillR, no one has their fingers in their ears.  If it&#039;s anyone it&#039;s you, because you&#039;re talking about pressuring and impoverishing (if that&#039;s a word) people in order to escape inflation.  I know which is worse - even if you can ignore the consequences of what you&#039;re suggesting.</description>
		<content:encoded><![CDATA[<p>Vidiot, under the Evil RMA, about 1,700MW has been consented, and there&#8217;s another 3,000MW under appeal or awaiting consent.  NZ&#8217;s total capacity is only about 8,000MW so you can hardly say it&#8217;s holding generation back.</p>
<p>Some info is <a href='http://www.electricitycommission.govt.nz/pdfs/opdev/modelling/generation/Update-Aug2008.pdf' rel="nofollow">here</a>.</p>
<p>Your case in point, Huntly, is a good example.  25+ degree water is getting beyond the survivable range for most aquatic life, apart from algae and weeds.  There&#8217;s a reason behind that regulation &#8211; do you think it&#8217;s been put in for fun?</p>
<p>NeillR, no one has their fingers in their ears.  If it&#8217;s anyone it&#8217;s you, because you&#8217;re talking about pressuring and impoverishing (if that&#8217;s a word) people in order to escape inflation.  I know which is worse &#8211; even if you can ignore the consequences of what you&#8217;re suggesting.</p>
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		<title>By: Ianmac</title>
		<link>http://thestandard.org.nz/reserve-bank-drops-ocr-1/comment-page-1/#comment-97110</link>
		<dc:creator>Ianmac</dc:creator>
		<pubDate>Wed, 22 Oct 2008 22:40:39 +0000</pubDate>
		<guid isPermaLink="false">http://www.thestandard.org.nz/?p=3932#comment-97110</guid>
		<description>Are there not statistics which show that about 98% of RMA applications pass without dispute?</description>
		<content:encoded><![CDATA[<p>Are there not statistics which show that about 98% of RMA applications pass without dispute?</p>
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		<title>By: NeillR</title>
		<link>http://thestandard.org.nz/reserve-bank-drops-ocr-1/comment-page-1/#comment-97106</link>
		<dc:creator>NeillR</dc:creator>
		<pubDate>Wed, 22 Oct 2008 22:36:47 +0000</pubDate>
		<guid isPermaLink="false">http://www.thestandard.org.nz/?p=3932#comment-97106</guid>
		<description>Nice try boys, but wrong. With no incentive to get off the minimum wage there is no chance of decreasing inflation due to the unproductive increase in said wage. 
For instance, there are only so many ways you can flip a burger, MacDonalds has spent years making the most efficient burgers on the planet, so if the labour cost input rises then the cost of that burger has to rise proportionally - which has occurred. There&#039;s no way of escaping it no matter how much you stick your fingers in your ears and scream &quot;lalalalalalala&quot;.</description>
		<content:encoded><![CDATA[<p>Nice try boys, but wrong. With no incentive to get off the minimum wage there is no chance of decreasing inflation due to the unproductive increase in said wage.<br />
For instance, there are only so many ways you can flip a burger, MacDonalds has spent years making the most efficient burgers on the planet, so if the labour cost input rises then the cost of that burger has to rise proportionally &#8211; which has occurred. There&#8217;s no way of escaping it no matter how much you stick your fingers in your ears and scream &#8220;lalalalalalala&#8221;.</p>
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		<title>By: Draco T Bastard</title>
		<link>http://thestandard.org.nz/reserve-bank-drops-ocr-1/comment-page-1/#comment-97085</link>
		<dc:creator>Draco T Bastard</dc:creator>
		<pubDate>Wed, 22 Oct 2008 22:17:13 +0000</pubDate>
		<guid isPermaLink="false">http://www.thestandard.org.nz/?p=3932#comment-97085</guid>
		<description>&lt;blockquote&gt;Yet only National proposes to do anything about this...&lt;/blockquote&gt;
And increase emigration because people would otherwise be starving to death on wages that don&#039;t cover the minimum cost of supplying labour.</description>
		<content:encoded><![CDATA[<blockquote><p>Yet only National proposes to do anything about this&#8230;</p></blockquote>
<p>And increase emigration because people would otherwise be starving to death on wages that don&#8217;t cover the minimum cost of supplying labour.</p>
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		<title>By: Lampie</title>
		<link>http://thestandard.org.nz/reserve-bank-drops-ocr-1/comment-page-1/#comment-97084</link>
		<dc:creator>Lampie</dc:creator>
		<pubDate>Wed, 22 Oct 2008 22:16:13 +0000</pubDate>
		<guid isPermaLink="false">http://www.thestandard.org.nz/?p=3932#comment-97084</guid>
		<description>yeah I just find it ummmm uncanny, would be interesting to see, even further back in the 70s (when they started correct?) and see if there is a relationship hence Muldoon&#039;s famous quote of raising the IQ of both countries. Funny how when National looks like winning (2005 would be interesting) or just got in that people are leaving in droves!!!!!!

bit quiet today, maybe I will have a look

&quot;This is BollardSpeak for &quot;Labour&#039;s spending plans are totally out of control and i&#039;ll have to raise rates again if they get back in&#039;.
Let&#039;s look at them:
Labour costs Raised the minimum wage rate without a consequent increase in productivity, therefore inflation goes up.
Electricity prices Three of the four generators are SOE&#039;s and have had to increase their returns to that Cullen could pay for his trainset.
Construction costs Labour has refused to accept that the RMA adds significantly to the cost of construction, but has allowed councils to use it as a blocking tool to massively increase prices for residential development. I&#039;ve heard stories of fees going from $15k to around $100k in the last 3-4 years.

Yet only National proposes to do anything about this - Labour (and Cullen) are quite happy to let inflation run rampant, because t(he)y know that the fiscal drag effect allows them to pay for their ruinous schemes. He is no different to Muldoon, and there will be no different outcome - the country is going broke.&quot;

Bullshit or as Key would say &quot;market forces&quot;</description>
		<content:encoded><![CDATA[<p>yeah I just find it ummmm uncanny, would be interesting to see, even further back in the 70s (when they started correct?) and see if there is a relationship hence Muldoon&#8217;s famous quote of raising the IQ of both countries. Funny how when National looks like winning (2005 would be interesting) or just got in that people are leaving in droves!!!!!!</p>
<p>bit quiet today, maybe I will have a look</p>
<p>&#8220;This is BollardSpeak for &#8220;Labour&#8217;s spending plans are totally out of control and i&#8217;ll have to raise rates again if they get back in&#8217;.<br />
Let&#8217;s look at them:<br />
Labour costs Raised the minimum wage rate without a consequent increase in productivity, therefore inflation goes up.<br />
Electricity prices Three of the four generators are SOE&#8217;s and have had to increase their returns to that Cullen could pay for his trainset.<br />
Construction costs Labour has refused to accept that the RMA adds significantly to the cost of construction, but has allowed councils to use it as a blocking tool to massively increase prices for residential development. I&#8217;ve heard stories of fees going from $15k to around $100k in the last 3-4 years.</p>
<p>Yet only National proposes to do anything about this &#8211; Labour (and Cullen) are quite happy to let inflation run rampant, because t(he)y know that the fiscal drag effect allows them to pay for their ruinous schemes. He is no different to Muldoon, and there will be no different outcome &#8211; the country is going broke.&#8221;</p>
<p>Bullshit or as Key would say &#8220;market forces&#8221;</p>
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		<title>By: vidiot</title>
		<link>http://thestandard.org.nz/reserve-bank-drops-ocr-1/comment-page-1/#comment-97080</link>
		<dc:creator>vidiot</dc:creator>
		<pubDate>Wed, 22 Oct 2008 22:14:17 +0000</pubDate>
		<guid isPermaLink="false">http://www.thestandard.org.nz/?p=3932#comment-97080</guid>
		<description>DeeDub - so dare I ask:

&lt;i&gt;Where do the Greens expect this power to come from for the Electrification of the Auckland Rail Iines ? &lt;/i&gt;

We have the generation assets in place today (that are State owned) with the capacity to meet this increase in demand, however the RMA (and other bollocks legislation) don&#039;t permit or encourage them to run either at peak efficiency or full capacity.

Case in point, Huntly. It can draw water off of the Waikato River for Cooling, but can not put it back in to the river at over 25 degrees C. Now how does one generate power in Summer @ Huntly when the temperatures at the River inlet system exceed that (25 degrees C) before they actually try and use it to cool the plant ? A) They don&#039;t, Huntly effectively shuts in Summer, ergo 1300+mw of generation goes awol (17% of NZ&#039;s generation capacity)

And let&#039;s not talk about what they use to power Huntly either, Gas or Coal, or them Greenies will come looking for ways to completely close that plant down.

And as for nationalising the generation assets again, it would never happen - however why can&#039;t the 3 existing State SOE&#039;s (Genesis, Mighty River, Meridian) all join together as one (reduce the top heavy management structure, merge resources, etc) and save some money / compete against the likes of Contact, Trust Power, etc.</description>
		<content:encoded><![CDATA[<p>DeeDub &#8211; so dare I ask:</p>
<p><i>Where do the Greens expect this power to come from for the Electrification of the Auckland Rail Iines ? </i></p>
<p>We have the generation assets in place today (that are State owned) with the capacity to meet this increase in demand, however the RMA (and other bollocks legislation) don&#8217;t permit or encourage them to run either at peak efficiency or full capacity.</p>
<p>Case in point, Huntly. It can draw water off of the Waikato River for Cooling, but can not put it back in to the river at over 25 degrees C. Now how does one generate power in Summer @ Huntly when the temperatures at the River inlet system exceed that (25 degrees C) before they actually try and use it to cool the plant ? A) They don&#8217;t, Huntly effectively shuts in Summer, ergo 1300+mw of generation goes awol (17% of NZ&#8217;s generation capacity)</p>
<p>And let&#8217;s not talk about what they use to power Huntly either, Gas or Coal, or them Greenies will come looking for ways to completely close that plant down.</p>
<p>And as for nationalising the generation assets again, it would never happen &#8211; however why can&#8217;t the 3 existing State SOE&#8217;s (Genesis, Mighty River, Meridian) all join together as one (reduce the top heavy management structure, merge resources, etc) and save some money / compete against the likes of Contact, Trust Power, etc.</p>
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		<title>By: Ianmac</title>
		<link>http://thestandard.org.nz/reserve-bank-drops-ocr-1/comment-page-1/#comment-97076</link>
		<dc:creator>Ianmac</dc:creator>
		<pubDate>Wed, 22 Oct 2008 22:08:34 +0000</pubDate>
		<guid isPermaLink="false">http://www.thestandard.org.nz/?p=3932#comment-97076</guid>
		<description>Lampie: Agree. Funny that the numbers of people apparently heading for Australia is increasing in spite of the polls showing a complete victory for National. Posted that as observation on the Colin Espiner blogsite where some strange posters were really screaming about how great their National victory would be. Silence in response.</description>
		<content:encoded><![CDATA[<p>Lampie: Agree. Funny that the numbers of people apparently heading for Australia is increasing in spite of the polls showing a complete victory for National. Posted that as observation on the Colin Espiner blogsite where some strange posters were really screaming about how great their National victory would be. Silence in response.</p>
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		<title>By: randal</title>
		<link>http://thestandard.org.nz/reserve-bank-drops-ocr-1/comment-page-1/#comment-97075</link>
		<dc:creator>randal</dc:creator>
		<pubDate>Wed, 22 Oct 2008 22:07:52 +0000</pubDate>
		<guid isPermaLink="false">http://www.thestandard.org.nz/?p=3932#comment-97075</guid>
		<description>just look at all the imported motorbikes running round the country on Sunday while the geeks fulfil their destiny and you can see where all the money went. Boobies on bikes indeed!</description>
		<content:encoded><![CDATA[<p>just look at all the imported motorbikes running round the country on Sunday while the geeks fulfil their destiny and you can see where all the money went. Boobies on bikes indeed!</p>
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		<title>By: NeillR</title>
		<link>http://thestandard.org.nz/reserve-bank-drops-ocr-1/comment-page-1/#comment-97070</link>
		<dc:creator>NeillR</dc:creator>
		<pubDate>Wed, 22 Oct 2008 22:01:34 +0000</pubDate>
		<guid isPermaLink="false">http://www.thestandard.org.nz/?p=3932#comment-97070</guid>
		<description>So the chickens finally come home to roost. 
&lt;i&gt;However, we still have concerns that domestically generated inflation (particularly in labour costs, local body rates, electricity prices and construction costs) is remaining stubbornly high.&lt;/i&gt;
This is BollardSpeak for &quot;Labour&#039;s spending plans are totally out of control and i&#039;ll have to raise rates again if they get back in&quot;.
Let&#039;s look at them:
&lt;b&gt;Labour costs&lt;/b&gt; Raised the minimum wage rate without a consequent increase in productivity, therefore inflation goes up.
&lt;b&gt;Electricity prices&lt;/b&gt; Three of the four generators are SOE&#039;s and have had to increase their returns to that Cullen could pay for his trainset.
&lt;b&gt;Construction costs&lt;/b&gt; Labour has refused to accept that the RMA adds significantly to the cost of construction, but has allowed councils to use it as a blocking tool to massively increase prices for residential development. I&#039;ve heard stories of fees going from $15k to around $100k in the last 3-4 years.

Yet only National proposes to do anything about this - Labour (and Cullen) are quite happy to let inflation run rampant, because t(he)y know that the fiscal drag effect allows them to pay for their ruinous schemes. He is no different to Muldoon, and there will be no different outcome - the country is going broke.</description>
		<content:encoded><![CDATA[<p>So the chickens finally come home to roost.<br />
<i>However, we still have concerns that domestically generated inflation (particularly in labour costs, local body rates, electricity prices and construction costs) is remaining stubbornly high.</i><br />
This is BollardSpeak for &#8220;Labour&#8217;s spending plans are totally out of control and i&#8217;ll have to raise rates again if they get back in&#8221;.<br />
Let&#8217;s look at them:<br />
<b>Labour costs</b> Raised the minimum wage rate without a consequent increase in productivity, therefore inflation goes up.<br />
<b>Electricity prices</b> Three of the four generators are SOE&#8217;s and have had to increase their returns to that Cullen could pay for his trainset.<br />
<b>Construction costs</b> Labour has refused to accept that the RMA adds significantly to the cost of construction, but has allowed councils to use it as a blocking tool to massively increase prices for residential development. I&#8217;ve heard stories of fees going from $15k to around $100k in the last 3-4 years.</p>
<p>Yet only National proposes to do anything about this &#8211; Labour (and Cullen) are quite happy to let inflation run rampant, because t(he)y know that the fiscal drag effect allows them to pay for their ruinous schemes. He is no different to Muldoon, and there will be no different outcome &#8211; the country is going broke.</p>
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