Written By: - Date published: 7:26 pm, January 29th, 2021 - 22 comments
The world has been watching, mostly with amusement, as some redditors have brought a Wall Street merchant bank to its knees, by buying stocks in a company, GameStop who has seen better days and whose business model is antiquated.
Written By: - Date published: 8:41 am, September 2nd, 2020 - 16 comments
Along with the grey weather, the weather around our local net is downright annoying at present. There are a massive increase in attempts to break into this site via backend systems and brute force front-end logins, a surge in scans from the search engine spider bots, and a lot of requests for putting up paid content. All of which have been ignored or dealt with. Good thing that we aren’t a target like the NZX, banks, mainstream media and the MetService are.
Written By: - Date published: 4:51 pm, June 12th, 2020 - 31 comments
…is the US sharemarket roaring away – up 44% – while economic recovery prospects are grim?” ANZ’s Sharon Zollner’s answer on Tuesday was the Fed printing money, but worried markets were turning a blind eye to the bad news. The bad news hit today as the sharemarket nose-dived. Wolf Richter’s answer was more to Kim’s point: “Fed bails out the wealthy while America convulses in pain.”
Written By: - Date published: 6:32 am, April 15th, 2020 - 112 comments
After the lockdown, it is tempting to try and go back to what we had before. To the familiar and comfortable, especially for us that were comfortable. Forgetting that for so many, things were anything but, comfortable. That won’t be happening. “Before” no longer exists.
Written By: - Date published: 10:57 am, November 17th, 2019 - 30 comments
Nick Kelly on UK austerity and who should have paid for the financial crisis.
Written By: - Date published: 3:58 am, November 16th, 2019 - 2 comments
Nick Kelly on why the 2008 Global Financial Crisis is still having a dramatic effect on United Kingdom Politics.
Written By: - Date published: 2:09 am, September 19th, 2019 - 21 comments
France President Macron’s remarkable and wide-ranging speech to French ambassadors after France hosted the recent G7 conference in Biarritz is well worth a read. He lays it all out – so much better than Trump’s tweets or BoJo’s bluster.
Written By: - Date published: 7:05 am, July 3rd, 2019 - 105 comments
ANZ is complaining that the Reserve Bank wants it to hold additional capital in case of a run on the banks.
Written By: - Date published: 8:16 am, June 25th, 2019 - 76 comments
Grant Robertson gets occasional criticism from the left but it is hard to fault him for his timing or his delivery in seeking to strengthen banking sector oversight.
Written By: - Date published: 9:18 am, June 23rd, 2019 - 75 comments
Stuff has published details of a sweetheart deal where David Hisco bought the ANZ owned property they were living in for a greatly reduced price. But was this good investigative work or a leak from within ANZ?
Written By: - Date published: 9:38 am, June 19th, 2019 - 15 comments
The corporation that has become renowned as the purveyor of fake news and the underminer of elections is planning to roll out a crypto currency service.
Written By: - Date published: 8:45 am, June 3rd, 2019 - 49 comments
With the United States – China trade war well underway, the sick chaos of Brexit is shrinking the U.K. economy and slowing much of Europe’s economy, and smaller economies such as that of Mexico in the crosshairs through further politically manufactured trade disputes, the second half of this year looks for New Zealand nowhere near as rosy as the first half.
Written By: - Date published: 5:05 pm, February 3rd, 2019 - 56 comments
Polymath economist Professor Michael Hudson’s latest article is a geopolitical panoramic masterpiece, sparked by outrage at a series of concurrent events on January 31 which he predicts means that 2019 will be the “year of global fracture.” Definitely worth a read.
Written By: - Date published: 11:19 am, September 11th, 2018 - 32 comments
Ten years ago this week massive financial businesses in the United States started collapsing. How has the world recovered from this?
Written By: - Date published: 8:00 am, May 2nd, 2018 - 17 comments
The review into Australia’s banking system really matters to New Zealand and is doing New Zealand an almighty good service.
Written By: - Date published: 9:00 am, March 8th, 2018 - 128 comments
Amy Adams won’t commit to $11.7b, but she too has now become the third person to fall down the imaginary fiscal hole. How can National claim to have any soundness on finance if they won’t admit their criticisms on the economy are unreasonable and unfounded? And besides, aren’t National actually worse fiscal managers if ordinary people tend to get paid less under their regimes? We dive into some theory to thoroughly dispute even Steven Joyce’s/Amy Adam’s secondary criticism of “fiscal tightness,” although concede that two of the Budget Responsibility rules are probably stupid in order to do it.
Written By: - Date published: 1:20 pm, March 7th, 2018 - 32 comments
Don’t hold your breath for recommendations of radical tax reform from the Tax Working Group. Chair Sir Michael Cullen says the 2020 election will be a referendum on tax and he is already kicking for touch
Written By: - Date published: 10:08 pm, February 20th, 2018 - 11 comments
The Lord Mayor of the City of London is visiting New Zealand. Its not Sadiq Khan, Charles Bowman is a PwC partner leading London’s financial centre lobby. He’s here to talk to business and regulators. He’ll no doubt be talking up more deregulation.
Written By: - Date published: 4:34 pm, February 14th, 2018 - 123 comments
Fletcher announces more huge losses but directors still laughing all the way to the bank
Written By: - Date published: 6:10 pm, February 9th, 2018 - 109 comments
New Zealanders 17 years ago accepted the idea of a national dairy monopoly on the condition it would deliver outstanding returns. The cost has been high — filthy and unswimmable rivers. Now it turns out the result has been a financial fiasco – the whole thing is literally bullshit, or more correctly, cowshit.
Written By: - Date published: 8:00 am, December 9th, 2017 - 31 comments
It’s that time of year where we start making predictions for 2018. I see it looking not too hot, not too cold.
Written By: - Date published: 9:07 pm, November 8th, 2017 - 99 comments
Written By: - Date published: 5:46 pm, October 9th, 2017 - 56 comments
Policy is everything, Winston Peters said today. This should not be a surprise. Before every election, he has refused to give any hint of Party support preference until after the vote. But he will have thought a lot about what he might want, as it has long been clear that his Party would decide the outcome. So what are his policies?
Written By: - Date published: 3:39 pm, August 17th, 2017 - 48 comments
With the current dialog about welfare, It is time to look at the people who are the real beneficiaries, of the welfare system.
Who use the educated and healthy workforce our system provides
The people who say “everyone should stand on their own two feet”, “you don’t work you don’t eat”, and “take personal responsibility”,
The business sector.
Written By: - Date published: 9:53 am, April 23rd, 2017 - 28 comments
The text of David Cunliffe’s final speech delivered to the New Lynn Labour Party earlier this week where he decries neoliberalism and worries about the world’s environmental future.
Written By: - Date published: 8:23 am, April 5th, 2017 - 15 comments
Because of our our central government’s refusal to build social housing and both NZTA and AT rigorously avoiding urban development integration, the default control of housing supply lies with Australian regulation of New Zealand’s retail banks and their lending.
Written By: - Date published: 8:37 am, November 2nd, 2016 - 31 comments
Kiwibank is selling 47% of its shareholding to the New Zealand Super Fund and to the Accident Compensation Corporation. The Government gets a cheque for $200 million which will improve the appearance of its books. Financial sleight of hand?