Mr Tips makes a very interesting observation.
Can ANYONE provide evidence of a piece of legislation promoted and promulgated through Parliament by the Green party that ACTUALLY deals with the environment or Green causes?
You see, I can't find one. Of course, the Emission's Trading Scheme is a Labour invention.
Coupled with David Farrar's post showing how the Greens would like to ban life in general, one can only come to the following conclusion:
THE GREEN PARTY IS EITHER INCOMPETENT OR THEY ARE LIARS AND ARE REALLY INTERESTED IN PASSING LEGISLATION TO SOOTH THEIR OWN TROUBLED CONSCIENCES.
They cannot be anything else, because as an agent for the environment, they suck... completely.
27 October 2008
24 October 2008
Do NZ Banks Need a State Guarantee?
Taken from Lost Soul:
ANZ National Bank, the country's biggest bank, reported a profit of NZ$1.16b after tax for the year to 30 September 2008 (http://www.stuff.co.nz/4737543a13.html), down only slightly from the year before.
Westpac NZ reported a profit of NZ$462m, up from NZ$348m, for the 9 months to September 2008 (http://westpac.co.nz/olcontent/olcontent.nsf/AttachmentsByTitle/KIS_PDF_NZ/$FILE/KIS+NZ+Jun+2008.pdf).
BNZ reported a profit of NZ$657m for the same period, up 9% from the year before (http://www.stuff.co.nz/4734788a13.html).ASB reported a profit of NZ$515m, down slightly from the previous year, for the year to 30th June (http://www.asb.co.nz/story8753.aspx?cat=3).
That's 90% of the NZ banking sector covered by those figures.Sound like business as usual? Pretty much. But, if you believe the hype, there is such a financial crisis going on that these big banks can't get by without a Crown guarantee of their deposits and other liabilities.
The Australian parents of the NZ four, the so called four pillars of the Australian banking also remain profitable, the odd hiccup not wiping out profits let alone capital.
While the banks and their creditors have been told they are expected to weather adversity without government assistance, now they are being given assistance when they don't even need it!
During times of financial and banking stress, weaker and worse managed banks fail or are taken over by stronger ones, and funds move to higher quality banks. This is exactly what has happened during this time of financial stress, in text-book fashion, yet the authorities are crying wolf and using the stress as an excuse to regulate, intervene and interfere.
I have a message for the saviours of the financial system: stop bluffing and posturing, and use this as an example of the kind of stress financial institutions are expected to weather without government assistance
ANZ National Bank, the country's biggest bank, reported a profit of NZ$1.16b after tax for the year to 30 September 2008 (http://www.stuff.co.nz/4737543a13.html), down only slightly from the year before.
Westpac NZ reported a profit of NZ$462m, up from NZ$348m, for the 9 months to September 2008 (http://westpac.co.nz/olcontent/olcontent.nsf/AttachmentsByTitle/KIS_PDF_NZ/$FILE/KIS+NZ+Jun+2008.pdf).
BNZ reported a profit of NZ$657m for the same period, up 9% from the year before (http://www.stuff.co.nz/4734788a13.html).ASB reported a profit of NZ$515m, down slightly from the previous year, for the year to 30th June (http://www.asb.co.nz/story8753.aspx?cat=3).
That's 90% of the NZ banking sector covered by those figures.Sound like business as usual? Pretty much. But, if you believe the hype, there is such a financial crisis going on that these big banks can't get by without a Crown guarantee of their deposits and other liabilities.
The Australian parents of the NZ four, the so called four pillars of the Australian banking also remain profitable, the odd hiccup not wiping out profits let alone capital.
While the banks and their creditors have been told they are expected to weather adversity without government assistance, now they are being given assistance when they don't even need it!
During times of financial and banking stress, weaker and worse managed banks fail or are taken over by stronger ones, and funds move to higher quality banks. This is exactly what has happened during this time of financial stress, in text-book fashion, yet the authorities are crying wolf and using the stress as an excuse to regulate, intervene and interfere.
I have a message for the saviours of the financial system: stop bluffing and posturing, and use this as an example of the kind of stress financial institutions are expected to weather without government assistance
19 October 2008
Faith and Reason a Defence
MandM give a great, basic, defence of the possibility of faith and reason being compatible.
MandM: Faith and Logic
MandM: Faith and Logic
17 October 2008
09 October 2008
Under Investigation
Have a blog wildly critical of the Labour party and Blogger puts you under investigation for having a spam blog?
First its knives if your lawn, now this!
First its knives if your lawn, now this!
08 October 2008
Pondering the New Zealand Election
Its one month til voting day and I am still deciding on who to vote for.
I have strong environmental concerns but I am not sure if the Greens are the vehicle to stand behind.
I have strong economic concerns but can National really fix the problem and will ACT be strong enough to make sure they do?
I have strong social concerns but do the Christian parties really get how the state works?
I have a month to decide.
I have strong environmental concerns but I am not sure if the Greens are the vehicle to stand behind.
I have strong economic concerns but can National really fix the problem and will ACT be strong enough to make sure they do?
I have strong social concerns but do the Christian parties really get how the state works?
I have a month to decide.
30 September 2008
Financial Panic? What panic?
From NZ Conservative
[Update Tuesday 930am, Bail-out rejected Wall Street Crashes 750 points]Pat yourself on the back. You've just become a historical footnote.Are you feeling "financially distressed"? Well, if not you should be. You should be either "distressed" or "panicked". Distress is what you feel after a speculative bubble implodes but panic is what you experience when what you though was the bottom turns out to be a ledge over a chasm. I'm reluctant to look down.
Neville Bennett of the National Business Review has done us the kind service of comparing financial "panics". Yes, it's a "panic". Of all panics from 1847 to 1929, Bennett asserts that 2008 is most similar to 1929 because of the relentless train of morbid news and annihilation of landmark institutions such as Lehman Brothers and Merrill Lynch.In other words, recollect yourself and prepare dusty anecdotes for future grandchildren, you've just passed through the most volatile week (Monday 22) of the most turbulent year since 1929.This week is the week after the week before and there's no guarantee of a solution.
The proposed $700billion intervention, called a bail-out by some, a buy-in by others, is the biggest US Government action since the Depression. It goes to Congress vote on Monday. There are rumours fizzing around on the details and some are addressed at this link "Myth vs Fact". [Update 940pm, here is the 110pg discussion draft]I don't know what to think, it's bewildering, more so if you also recall the baby-boomers are coming up to retirement age en masse and we, their children, are meant to be creating wealth at a level to sustain their long-assumed retirement incomes. This time around our "depression" will be on Facebook.
Familiarise yourself with past panics, crashes, and financial imbroglios:Panic of 1873.Panic of 1893.Panic of 1907.Crash of 1929.
Now might be a good time to look your finances in the eye and reorganise.
[Update Tuesday 930am, Bail-out rejected Wall Street Crashes 750 points]Pat yourself on the back. You've just become a historical footnote.Are you feeling "financially distressed"? Well, if not you should be. You should be either "distressed" or "panicked". Distress is what you feel after a speculative bubble implodes but panic is what you experience when what you though was the bottom turns out to be a ledge over a chasm. I'm reluctant to look down.
Neville Bennett of the National Business Review has done us the kind service of comparing financial "panics". Yes, it's a "panic". Of all panics from 1847 to 1929, Bennett asserts that 2008 is most similar to 1929 because of the relentless train of morbid news and annihilation of landmark institutions such as Lehman Brothers and Merrill Lynch.In other words, recollect yourself and prepare dusty anecdotes for future grandchildren, you've just passed through the most volatile week (Monday 22) of the most turbulent year since 1929.This week is the week after the week before and there's no guarantee of a solution.
The proposed $700billion intervention, called a bail-out by some, a buy-in by others, is the biggest US Government action since the Depression. It goes to Congress vote on Monday. There are rumours fizzing around on the details and some are addressed at this link "Myth vs Fact". [Update 940pm, here is the 110pg discussion draft]I don't know what to think, it's bewildering, more so if you also recall the baby-boomers are coming up to retirement age en masse and we, their children, are meant to be creating wealth at a level to sustain their long-assumed retirement incomes. This time around our "depression" will be on Facebook.
Familiarise yourself with past panics, crashes, and financial imbroglios:Panic of 1873.Panic of 1893.Panic of 1907.Crash of 1929.
Now might be a good time to look your finances in the eye and reorganise.
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