Comments on: Halfway to a recession?

By: RRM

RRM — Fri, 20 Jun 2008 00:39:04 +0000

I fancy you’re thinking of Old Seaman Staines…?

By: expat

expat — Thu, 19 Jun 2008 20:15:14 +0000

master bates and seaman salty

By: philu

philu — Thu, 19 Jun 2008 20:07:20 +0000

having a wee ‘stream of (un)conciousness’ there..?

oecd..?

phil(whoar.co.nz)

By: OECD rank 22 kiwi

OECD rank 22 kiwi — Thu, 19 Jun 2008 10:52:47 +0000

Isn’t Philu busy making ice cubes, courtesy of a taxpayer funded fridge, then throwing them about the deck of the Titanic with reckless abandon before prostrating himself on the said decks before the good and the decent saying “Woe is me”?

The devil makes work for idle hands.

Your tax dollars working hard.

By: philu

philu — Thu, 19 Jun 2008 03:35:29 +0000

i am but a lowly cabin-boy/lookout..

only able to go ‘oi..!..look out..!’

..it is the officers who are ignoring/ostrich-heading..about what we face..

phil(whoar.co.nz)

By: labrator

labrator — Thu, 19 Jun 2008 02:21:10 +0000

To keep the analogy really going, he’d be sitting on the foredeck of the Titanics tender being towed behind with a quick release rope. He’s not really on the ship because then he’d have to do something to get off.

By: getstaffed

getstaffed — Thu, 19 Jun 2008 02:07:41 +0000

philu – well done on the sub-prime thing. an ice-berg indeed. and it’s amusing to see the MSM so slow in picking it all up. so tell me, what are you personally doing about it? I note that your personal productivity/contribution to our domestic economy is negative (ie you choose to draw welfare when you are arguably capable of work)… to keep the analogy going, that has you sitting on a deck-chair, downing a drink supplied by someone else and hollering “iceberg”, while others operate the Titanics engine and steerage.

By: philu

philu — Thu, 19 Jun 2008 01:40:02 +0000

and your comment is the equivalent of…”no..i don’t think it’s an iceberg..!’

phil(whoar.co.nz)

By: emmess

emmess — Wed, 18 Jun 2008 23:11:31 +0000

Only Portugal and Canada from this list of country’s which have announced Quarter 1 growth rates are negative
http://www.economist.com/markets/indicators/displaystory.cfm?story_id=11543621

How would that sound as a slogan at a protest march Phil?

By: expat

expat — Wed, 18 Jun 2008 20:28:22 +0000

fair call.

By: philu

philu — Wed, 18 Jun 2008 20:16:38 +0000

xpat said…

“..philu is now the oracle. key and english will be beating down his door..”

no..not an ‘oracle’..just have been reasonably diligent at passing on the information..that is out there..

as my archives show..my first sub-prime story was in january 2007..

..and i have been tracking it/’warning’ since then..

our mainstream media here first mentioned subprime just before last christmas..

..i noted on national radio the other day..jim mora expressing his surprise at how ‘sudden’ all this was/is..

it depends where you get your news/information from..jim..

http://whoar.co.nz/?s=sub-prime&paged=2

phil(whoar.co.nz)

By: expat

expat — Wed, 18 Jun 2008 19:06:48 +0000

Oh come on, the world is heading into a commodity inflation lead depression. Haven’t you spotted the global housing slump, energy inflation, food inflation etc. Just wait until fuel and energy costs really kick in later this year.

By: Lee C

Lee C — Wed, 18 Jun 2008 18:38:50 +0000

I don’t know why you are all so hard on Cullen, after all, hasn’t he delivered us a society in which no one need fear having tho face the spectre of hard work as a means of getting ahead, if one so chooses?

By: OECD rank 22 kiwi

OECD rank 22 kiwi — Wed, 18 Jun 2008 15:01:54 +0000

Have to agree with Milo. Even the USA isn’t currently in recession. All economic analysis points to the New Zealand economy being a dog. The projections that I’ve seen show it underperforming severely compared to its main trading partners.

Not very surprising though as you would be hard pressed to point to what New Zealand actually produces. Only the Dairy industry keeps the country afloat. Strangely “investing” in the New Zealand residential property market hasn’t delivered the hoped for economic nirvana but instead an economic hangover for which New Zealanders will be paying for sometime to come. Not that residential property is a productive asset.

Everyone pays the fiddler in the end.

By: milo

milo — Wed, 18 Jun 2008 11:55:45 +0000

Sonic said GD, the whole world is going into recession

That is an untruth. Again. If you believe it Sonic, please offer some evidence of negative first quarter GDP growth from our major trading partners.

By: OECD rank 22 kiwi

OECD rank 22 kiwi — Wed, 18 Jun 2008 11:26:08 +0000

Maybe when Cullen caves in to Australian demands for an open investment environment between New Zealand and Australia with no political interference then the New Zealand economy might be lifted out of recession.

Oh, is that more bad news for Labour as it made Foreign investment an election issue and now it appears to be surrendering the initiative to Australia? What a shame.

A bit academic anyway, what can Cullen possibly achieve in the four months he has left remaining in the job? Sabotage yes, survival no.

Labour is already defeated. Now we’re just deciding the margin!

By: reid

reid — Wed, 18 Jun 2008 10:37:53 +0000

Well a lot of people predicted this but so what? We’re in it now so what are the issues and what’s the solution?

It’s interesting isn’t it that we’re now seeing another bubble in the food, oil and in many countries, water prices? I mean coming just after the dot-bomb bubble and then the real-estate bubble?

As everyone knows the theoretical $700 trillion derivatives issue is the Damocles Sword hanging over the whole mess and since the market is driven by confidence which is showing signs of waning that’s rather dangerous. Know what a trillion is? If you put aside a million dollars every day since the birth of Jesus Christ, you still wouldn’t have a trillion dollars. I recall it’s around 700, it may less than, but the point is it’s at least 5-600 – trillion – USD.

We could consider becoming a leading arms exporter because I can see the market may be about to boom there. Heard of Metalstorm? Hope you got shares in that.

There is however no reason why this issue needs to stop the rising Asian and Russian markets. They are far enough separated from London and NY financial connections as to be immune. The Europeans are not so fortunate. Sure Asia and Russia will lose lucrative markets but not totally and they can be replaced, over time. That’s in my view why we need to rapidly switch our focus toward those fellow travelers.

By: dad4justice

dad4justice — Wed, 18 Jun 2008 10:07:24 +0000

Lets hope that Batman and Robin have good breathing masks on, as the cannabis fumes can kill a sparrow at a 100 metres.

By: expat

expat — Wed, 18 Jun 2008 10:00:04 +0000

philu is now the oracle. key and english will be beating down his door.

By: OECD rank 22 kiwi

OECD rank 22 kiwi — Wed, 18 Jun 2008 08:35:27 +0000

You reap what you sow.

The year of bad news continues. So much for being “relentlessly positive”. Cullen isn’t even following his own party’s script. Labour really are stuffed. The silver lining in the dark storm clouds ahead is that Labour are going to be at the sharp end of a massive electoral defeat this October/November. Serves them right. That’s what they get for following the failed ideology of socialism. It’s now a definite lock for John Key as Prime Minister later this year. It will be Labour supporters that suffer the most as a result of the forth coming recession.

Fair society? You bet!