Labour muckracking explodes in Helen's face

I didn't think the backlash to Labours baseless lie spread about John Key yesterday would come back to bite them so quickly but the very paper that was going to blow the lid off the story today, the NZ Herald, seems to have turned on Labour.

Leaking of documents to the Herald trawled through by Labour Party President Mike Williams in Melbourne last week were supposed to incriminate John Key in some sort of currency scam from the 1980s but the best that the Herald can do is that Key was unsure about when he left a company that he worked at more than 20 years ago when interviewed about it by the Herald last year-he was out by a few months, from his own memory, on the spot.

Within days, though, court documents proved that what would have been the campaign's most explosive allegation was wrong. The January 11 cheque was actually signed by an Australian-based executive of the firm Mr Key worked for.

Mr Key said last night he had nothing to hide and accused Labour of a smear campaign.

Prime Minister Helen Clark distanced herself, saying: "This is not a story I am handling at all." More

The curious thing to me is that the Herald seems to have set up Labour for a big fall, publishing a teaser yesterday and then pulling the rug this morning.

Helen Clark denying involvement is another lie. Mike Williams, who dug the dirt, is a close friend and in constant contact with Clark and she is informed of everything political he does.

The baseless muck racking by Labour is merely a symptom of their leaders style and it infiltrates her government and the bureaucrats that she presides over.

When cornered and on the ropes Clark always reaches for the lowest common denominator and she is true to form once again. Its desperate stuff, from a dying government.

Its time the politics of lies, cheating and corruption came to an end and this latest nonsense in a long string of filth may well bring it to an end November 2008.



c Political Animal 2008

Panic 2008!

"Market Crashes", "Dow Plunges", "Global Recession".

Its enough to make you feel like Edvard Munch on a combination of speed and cocaine.

Headlines blaring across the worlds financial and main news organisations are saturating investors brains to the extent that they can hardly see their way out of all the gloom.

Of course there are practical and real reasons why most of these headlines exist and we haven't seen the worst yet but lets face it the world ain't going to come to an end.

All things must pass!

I am fed up with all the negative stuff and I am looking past the drama of "Panic 2008" and "Black October"(whats up with October for down stockmarkets?) and towards what lay on the other side of it.

We are coming close to the bottom of the down part of a financial cycle and the big economic impact is likely to hit soon and last until well into 2009/early 2010-of course the reactions by politicians to it may delay growth -at the same time though the seeds of an economic recovery are being planted.

The New Zealand dollar has been decimated and will continue to fall and this of course will help an export led recovery, one that is sustainable, rather than the tax and spend merry go round we have been on for the last 9 years.

Lower New Zealand interest rates, and US ones in particular will lead to an increase in business growth through cheaper lending and a pick-up in job numbers and in home lending this will lead to all the knock-on industries benefiting as a result.

Lower asset values will lead to more prudent buying by investors and a gain for those who have bought in a falling market and for those who haven't had to sell their house, stocks or rental property.

Lower commodity prices for oil, grain, sugar and a whole host of other staples that make economies tick will be a welcome relief for citizens lumbered with less employment or problems with high debt.

My point is that with every downside associated with the current financial and economic turmoil there is a mirror upside in the future and that is just how economic cycles work.

The fact that the upwards cycle has been a steep one unfortunately means the downside will be reasonably lengthy but in the process of movement back towards the top there are opportunities to be had for investors to capitalise on by buying cheap assets and benefit from their foresight when things inevitably get better.

All we need now is a little more faith in the future to make the upside a reality sooner rather than latter.


Panic 2008 @ Share Investor

Why I am optimistic about the Global recession
Learning from History
Strap yourself in baby!
Will the stalactites hold?
Follow the Monopoly Board
Free Market to Pollies: We don't want you
The $700 Billion question: How much will the bailout affect your investment?
Not so sweet Fannie Mae
Financial weapons of mass destruction
Global credit squeeze: There is no free lunch
The Global economy looks bad now? But wait there's more
Current Credit crunch a blessing in disguise
Lenders must come clean over losses to restore faith in credit marketsWatch for dead cats bouncingGlobal Market Meltdown: I can smell the fear from here
Warren Buffett's The Intelligent Investor
Global Market's dropping and your portfolio
Global Market Meltdown: What is Warren Buffett doing?
A sensible approach to global market volatility




c Share Investor 2008

Labour Election advertising misleading

Labour has been misleading the public again, this time in their nasty election attack ads about John Key:

The Advertising Standards Authority has upheld a complaint against Labour's "John and John" campaign ads and has ruled they carry misleading information. More

We really shouldn't be surprised, Clark has been misleading New Zealanders for 9 years, why should the election campaign be any different.

The election is about trust huh?

c Political Animal 2008

Labour's baseless attack on John Key could well bite come polling day

"It should not need to be said that John Key was completely innocent of any wrongdoing whatsoever," Mr Sturt said.

"For any politician to hint or suggest otherwise would be absolute rubbish and pure mischief-making." Chas Sturt, former Serious Fraud Office director 

As I mentioned yesterday when writing about Helen Clark's involvement in the Owen Glenn/Peters scandal it wont be long before Labour releases irrelevant insubstantial "dirt" dug up by Labour Party hacks.

Little did we know it would be so soon, so irrelevant, so insubstantial and dug up by chief mud flinger Mike Williams, Labour Party President.

The accusation dates back more than 20 years, is being made by Labour and fed to the New Zealand Herald by party hacks.

John Key faces accusations of misleading the public about his knowledge of one of New Zealand's most notorious white collar crimes.

The allegations centre around the so-called H-Fee - two payments totalling A$66.5 million to Equiticorp funnelled via sham foreign exchange transactions in 1988 - and an interview Mr Key gave the Herald last year. More

Unfortunately for Labour a serious fraud investigation cleared any involvement by John Key and his reputation is clear. From Charles Sturt:

The former Serious Fraud Office (SFO) director, Charles Sturt, said on August 25, 2007, that Mr Key was not involved in the H-Fee scam.

The SFO interviewed Mr Key about it, and Mr Sturt said he was one of many innocent people in a massive fact-gathering exercise.

"It should not need to be said that John Key was completely innocent of any wrongdoing whatsoever," Mr Sturt said.

"For any politician to hint or suggest otherwise would be absolute rubbish and pure mischief-making." More

He refutes completely about any involvement in a foreign exchange scam here.

Unfortunately for Key mud does stick and the filthy way Labour are running their election campaign must mean they have done some inside polling of their own and have found they are on a hiding to nothing come election day.

This Key nonsense is nothing but a media beat up and stories with way more importance and gravitas have been so far buried. Recent revelations uncovered by Ian Wishart that Labour have been involved in donations to their party from a Chinese underworld figure, in exchange for passports, Clark's involvement in the Owen Glenn saga and her blatant, irrelevant, use of the race card twice last week have largely been swept under the rug by our left loving media.

If that is the best Clark has she and her cabal are going to have to dig even deeper and they probably will.

Unfortunately for Labour though, this sort of filthy baseless mud-slinging may well come back to bite them on election day.



c Political Animal 2008