Wednesday, October 8, 2008
FULL VIDEO: Second Presidential Debate, Barack Obama and John McCain, October 7th 2008, Belmont University Tennessee
Posted by Share Investor at 4:50 PM 1 comments
Why I am optomistic about the global recession
I have worked very hard for the last 15 years to accumulate the assets that I have.
I have sacrificed a social life, a family life in the early years and have saved well during the "good" years.
I get the working like a dog part from my Dad and the saving part from my Mum-my Dad was a hopeless saver.
It is hard to watch those assets lose value from day to day but the corollary of that of course is the years that those same assets increased in value.
That is the risk and reward from investing. I know that. Asset values fluctuate from day to day and year to year and there are economic and business cycles that affect our wealth as well.
The latest global banking problems though are new to me but in the back of my mind when I wrote this back in March, I had the feeling something like this might happen.
I have been investing in the stockmarket for 10 years and I am 42 years old, so have lived through a big recession in the 1970s, one in the early 1980s, the early 90s and an impending global something.
I clearly knew nothing about the first two recessions and only had a vague inkling of the 1987 crash which caused an economic meltdown in New Zealand that took ten years to recover from.
Speaking to a 92 year old the other day who lived through the depression of the 1930s, she seemed to think things "were not so bad", her dad kept his job and they were well fed and cared for, so I think we will all be okay whatever happens.
At the end of every downturn is the beginning of an upturn and another economic boom.
Clearly the US and European banking collapses are going to have severe impacts on a New Zealand economy that is already in a dire state, thanks to the profligate spending of the current government, and that is just the way it has to be. There are no free lunches.
My sacrifice over the last 15 years has put me in good stead though. I didn't buy a flat screen TV, I didn't buy another new car, an investment house and all those lovely new consumer goods that others now have financial indigestion from.
I bought items related to productive investment, made my money off them and invested it and I am now in a position to profit from others greed and stupidity.
Unfortunately some of those that took risks are going to be bailed out of their stupidity and greed via taxpayer moola but that is another story. Don't get me wrong, I feel sorry for them but this is what capitalism is about-the exchange of assets for an agreed price.
I have cash ready to buy assets. I don't think the low is going to be reached any time soon but my history of frugal living has put me in a position now when I am excited by the potential bargains that will be put up for sale by those in debt.
I will be looking for more shares and a nice cheap house and will be looking in my home region of Hawkesbay for something.
The Global Market Meltdown @ Share Investor
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
Current Credit crunch a blessing in disguise
Lenders must come clean over losses to restore faith in credit markets
Watch for dead cats bouncing
Global 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
Posted by Share Investor at 12:01 AM 2 comments
Labels: financial meltdown, global recession, sub prime
National's tax move politically savvy
John Key and National's decision to "cut back" their prospective tax cuts, to be released today, is a great political move by the party, it gazumps any political mileage from Labour and makes National look fiscally prudent at a time where Labour and Micheal Cullen have managed New Zealand into a deep recession.
Posted by Share Investor at 12:00 AM 0 comments
Labels: economy, National tax cuts
Tuesday, October 7, 2008
More new taxes from Labour
Posted by Share Investor at 9:20 PM 0 comments
Labels: Auckland Fuel Tax, Taxes
Quote of the week
A brilliant quote from a caller to Newstalk ZB's Leighton Smith last week, that I just remembered:
Posted by Share Investor at 9:14 PM 2 comments
Labels: Quote of the week
Time to focus on Michael Cullen's economic mis-management
Posted by Share Investor at 12:00 AM 0 comments
Labels: economic meltdown, michael cullen, mis-management
Monday, October 6, 2008
Vegemite hits one billion
After blogging like a crazy M' effer today, I am almost sick of politics:
Posted by Share Investor at 7:28 PM 0 comments
Labour to ditch tax cuts
The 9 year wait from Labour for tax cuts has come a cropper today, with the opening of the Government books. Micheal Cullen has revealed that there will be no more tax cuts from Labour right when we desperately need them:
He also hinted it was time he did some "productive spending" as opposed to the last 9 years of wastage-it took him a while but an economic crises finally got him there.
The tough times meant there would have to be review of such "low priority" spending to fund more productive new initiatives.
Interesting though that on September 12 Michael Cullen said this:
"There's a lot of factors coming together there," Dr Cullen said. "I think probably the worst is over now."
But just 3 weeks latter on October 6 this curious comment:
"This is a time of unprecedented challenge for the global economy," Dr Cullen said.
"The rainy day has now arrived."
If Cullen is confused by the current economic crises how can New Zealanders trust him to manage our collapsing economy?
Good question Darren, good question.
c Political Animal 2008
Posted by Share Investor at 4:17 PM 0 comments
Labels: Labour to ditch tax cuts
Govt books a horror story
Today's opening of the Government's books reveals what most thinking people already know. We have been taxed to death, our money has been wasted on unproductive spending, welfare, bureaucrats and other handouts and the shite has just hit the fan:
The Government will run up cash deficits of more than $30 billion over the next five years due to reduced revenue and increasing costs, Treasury forecast today.
Finance Minister Michael Cullen said the world financial crisis had had a significant effect on the New Zealand economy.
"It is not a time for rash political promises"
Michael Cullen, Newstalk ZB 3.00 pm news break, Oct 6 2008
Posted by Share Investor at 2:59 PM 0 comments
Labels: opening Government books
Limo Drivers on speed
Only one ticket was issued to a driver of the new 7 series BMWs introduced this year, which now make up most of the 34-car fleet. The BMW was doing 63km/h in a 50km/h zone.
Crown limousines are available to former prime ministers, former governors-general, ministers and other VIPs, including ministers' partners, judges and visiting dignitaries.
Internal Affairs Department spokesman Tony Wallace said a new safe-driving policy was put in place after the Prime Minister's motorcade incident.
Drivers are allowed to break the speed limit only if their VIP passengers are on urgent public business which would include an order from the passenger or police or if there is a security threat.
It would be interesting to know which "VIPs" ordered their driver to speed.
I have heard it is either Helen Clark again or Trevor Mallard.
One presumes it is now alot more comfortable to speed as the new limos they are using are far more luxurious than the previous Fords, which cost less than half the Beamer's sticker price.
c Political Animal 2008
Posted by Share Investor at 2:20 PM 0 comments
Labels: Crown Limos
John Key pulls the birds
The all important Women's vote is swinging John Keys way:
Posted by Share Investor at 11:26 AM 0 comments
Labels: John Key, polling, Womens vote
Hypocrites Unite
More hypocritical, political nonsense from Labour and Helen Clark:
"It's the view of the Electricity Commission and it's certainly the view of the minister of energy that the price rise that Contact has announced, and the reasons for it, simply aren't justified,"
The facts are that Labour hasn't allowed power companies to build enough generation to match supply and as a result power prices have had to go up to recover retailers like Contact Energy' costs.
To say otherwise is simply a lie and trying to gain political capital from the masses too busy to read beyond the headlines.
Don't worry though, David Parker is on the case.
c Political Animal 2008
Posted by Share Investor at 11:16 AM 0 comments
Labels: Contact Energy, power crises
Punch Drunk
These quotes from Helen Clark this morning in response to the National Party's new parole policy that will mean repeat violent offenders who kill will get life in prison, that is, stay there until they die, really says it all:
"A lot of these long-term prisoners, over time start to change their behaviour, some become very religious.
"The National Party's attitude is they don't care about that at all, they just want to be vindictive."
"...are a waste of money..."
Helen Clark, Newstalk ZB 9.00am news bulletin 5 Oct 2008
She is out of touch, and these comments once again focus the importance back on the perpetrator rather than the victim.
She simply cares more about criminals than victims.
c Political Animal 2008
Posted by Share Investor at 9:11 AM 0 comments
Labels: law and order, National Party Policy
Watts up with that?
I came across this site because they linked a story of mine to their site.
I’m a former television meteorologist who spent 25 years on the air and who also operates a weather technology and content business, as well as continues daily forecasting on radio, just for fun.
Weather measurement and weather presentation technology is my specialty. I also provide weather stations and custom weather monitoring solutions via www.weathershop.com (if you like my work, please consider buying a weather gadget there, StormPredator for example) and www.tempelert.com, and turn key weather channels with advertising at www.viziframe.com
His site, Watts up with that is worth a look if you want reliable info on this much debated and often ill informed topic.
Related Political Animal reading
Kyoto critic comes to town
Global warming: Power to the people
Carbon Credit trading puts markets at extreme risk
Global Warning: Tax iceberg ahead
Unstoppable global warming
Earth Day: Turn on, tune out, buy some candles
TIME magazine slips inconvenient truth past its readers
The Great Global Warming Swindle
PRIME TV PRESENTS: The Great Global Warming Swindle
Kristen Byrnes-Ponder the Maunder
Helen Clark and Jeanette Fitzsimmons in conflict with business
Of tulip bulbs and tooth fairies
c Political Animal 2008
Posted by Share Investor at 8:54 AM 0 comments
Labels: Anthony Watt, global warming, Watts up with that
Are Labour voters missing a vital Chromosome?
Am I out of touch or just landed from outer space via Uranus? Neither I think. Comments in the Granny Herald asking How do you rate Helen Clark's nine years? kinda makes me itch all over.
Thank you Lilly, totally agree with you. Sometimes I wonder if the world has gone insane. I'm proud to be a NZer because of all the things Labour and Helen have done and am left astounded that people would actually prefer a NZ like it was nine years ago.
Pam H (Leigh) I feel that she hasn't kept to her promises that where made in the last nine years.
Steve Marshall (Epsom) Helen Clark's time as PM is marred by her hidden agenda of very significant changes which the public were never told about and which were forced through. Examples are the removal of the Privy Council, legalisation of prostitution, gay marriage. I can not believe that she is campaigning on trust and accuses other parties of secret agendas. I would like to know what the Labour Party has planned on their secret agenda should they return to power.
Enrolments close on Wednesday 8 Oct
Posted by Share Investor at 7:08 AM 0 comments
Labels: Comments from the NZ Herald, Labour Voters
Its about the economy stupid
Much has been written about the current meltdown of the worlds financial markets and apart from the fact that it is failure brought on by politicians interfering in the free market, rather than the favourite whipping boy of the socialists, the free market itself, it presents problems for our new government come November 8 2008-whoever gets elected.
Posted by Share Investor at 12:01 AM 0 comments
Labels: economic meltdown, John Key, John Key VS Michael Cullen
Sunday, October 5, 2008
POLL: TV One Colmar Brunton Poll, Oct 5 2008
It just keeps getting worse for the Labour Party, a slide in support for Labour and an increase for the National Party. It continues a long trend of good leads for the Nats.
Related Video | ||
New Zealand could get a new PM and a government that will not need coalition partners.
That's according to results from the latest ONE News Colmar-Brunton poll.
It shows National has increased its lead over Labour and only one other party reached the five percent threshold.
It seems the gaffe prone John Key was not able to hurt his party's lead to the top, with Labour's scorn so far failing to break his dream run.
The poll also found that Winston Peters still has some support, but it's the Maori Party that is increasingly looking like king makers at this election and there are few words of comfort for Helen Clark.
Maori Party co-leader Pita Sharples says Clark has been great, but that now she may be nearing the end of her time.
And with just over a month of campaigning to go, numbers suggest he may be right.
National is leading, with 52% of voters saying they are most likely to vote for the centre-right party. Labour has slid to 33% in the poll.
Those votes may have gone to the Greens, now on 7%.
The Maori Party rates 2.5%, while New Zealand First is still in trouble on 2% and Act on 1.5%.
When you translate that to seats in Parliament, National could govern alone with 65 seats.
Labour is in opposition with 41. The Greens pick up eight seats and assuming current electorates are held, the Maori Party has four.
Act has two and United Future and the Progressives one seat each.
It can be hard for the minor parties to get much of a look in, with intense interest in the battle to be Prime Minister.
But that battle is being won by John Key too, with 41% preferring him as NZ's next Prime Minister.
Key has a 10 point clear lead against Helen Clark who sits at 31%. Three percent of voters are still picking Winston Peters as the next preferred PM.
So far the campaign has largely been a series of photo opportunities, but that all changes on Monday.
The government accounts are to be revealed. Then National on Wednesday will unveil its vision for tax cuts, as the economy takes centre stage.
Voters were also asked on their feelings about the New Zealand economy and whether they felt the economy would get better or worse in the next 12 months.
The latest results show that economic confidence has plummeted.
The percentage of those optimistic about the economy stood at 41%, down nine percent, while those pessimistic about the economy stood at 38%, which was up 11%.
Economic woes may put extra added pressure on National.
After talking up expectations on tax cuts of around $50 a week for the average Kiwi, the party will need to show how they plan to make that possible in the current financial climate.
National is understood to be partly funding the tax cuts by reducing the amount of government money in the KiwiSaver scheme.
While that may be seen as a loss for New Zealanders, even more important for National will be to show that the party will be able to manage the recession-hit New Zealand economy during such precarious times.
It will be interesting to see Helen Clark's reaction to the reults tomorrow. Will it be another "Fairy Tale" as she said of the last Fairfax Neilson Poll?
Related Colmar Brunton Polls
Posted by Share Investor at 6:22 PM 0 comments
Maori Party voters better off with a National Government
There has been much talk in recent weeks about the Maori Party's new romance with John Key and National.
Posted by Share Investor at 3:07 PM 0 comments
A right royal poking
Posted by Share Investor at 9:38 AM 0 comments
Labels: Politcal cartoon, Stan Blanch
The Warehouse set to cut loose "Extra" impediment
The Warehouse Group [WHS.NZ] will make a decision mid October as to whether to ditch their "Extra" format stores, the major stumbling block for a possible sale to either Woolworths Australia [WOW.ASX] or Foodstuffs. It is looking likely that Warehouse management will cut the 3 trial stores lose.
It must also be close for a decision in the Supreme Court to grant Lawyers for Woolworths a right to appeal the Court of Appeal's ruling to deny any sale of the retail giant on the grounds that the Warehouse could be "possible competition", in the supermarket sector.
I am of the opinion though, that given the removal of the impediment of the Extra format stores, the format that the Commerce Commission said would provide supermarket competition and their main opposition to the sale, that any hearing in the Supreme Court would be swift and a decision could be made quite quickly.
That is contrary to my previous view that the Supreme Court process would be drawn out and tedious but hey the rules have now changed and therefore my original scenario I can now throw in the trash.
I wouldn't be surprised if Woolworth's lawyers made a submission to the Commerce Commission based on The Warehouse sans the Extra format.
It is worth a try, has been done before, and would certainly get the bidding process going before Christmas.
On the bidding process.
Clearly given the current credit crunch, and financial market turmoil, the bids for The Warehouse are going to be lower than they would have been since US financial system almost fell over the edge-it still hangs on a slippery precipice-so shareholders may have to carefully consider any substantially lower bids least they get shafted.
Looking forward, and of course preempting any court decision, as shareholders we should look to the longer term and reject any opportunistic bid because of any weakness in the global economy or how much we might need the money.
I am picking a green light for Woolworths or Foodstuffs to buy the big red sheds.
Disclosure: I own WHS shares
The Warehouse @ Share Investor
The Warehouse sale could hinge on "Extra" decision
The case for The Warehouse without a buyer
Foodstuffs take their foot off the gas
Woolworths seek leave to appeal to Supreme Court
Warehouse appeal decision imminent
Warehouse decision a loser for all
Warehouse Court of appeal decision in Commerce Commission's favour
MARKETWATCH: The Warehouse
The Warehouse takeover saga continues
Why did you buy that stock? [The Warehouse]
History of Warehouse takeover players suggest a long winding road
Court of Appeal delays Warehouse bid
The Warehouse set for turbulent 2008
The Warehouse Court of Appeal case lay in "Extras" hands
WHS Court of Appeal case could be dismissed next week
Commerce Commission impacts on the Warehouse bottom line
The Warehouse in play
Outcomes of Commerce Commission decision
The fight for control begins soon
Related Links
Warehouse results
Audited Results for the financial year ended 27 July 2008.pdf (1MB)
Warehouse Corporate profile
2008 Interim Report
Shareinvestorforum.com -Discuss this company
Related Amazon reading
The Wal-Mart Revolution: How Big Box Stores Benefit Consumers, Workers, and the Economy by Richard Vedder
Buy new: $13.60 / Used from: $3.63
Usually ships in 24 hours
c Share Investor 2008
Posted by Share Investor at 8:00 AM 0 comments
Labels: extra format, The Warehouse takeover
Saturday, October 4, 2008
Emergency Economic Stabilization Act of 2008
The US$700 Billion (now US$800 Billion when you factor in all the pork barreling) bailout was passed overnight in Washington by the Senate and now just needs the Presidents seal of approval:
THE PRESIDENT: A short time ago, the House of Representatives passed a bill that is essential to helping America's economy weather the financial crisis. The Senate passed the same legislation on Wednesday night. And when Congress sends me the final bill, I'm going to sign it into law.
There were moments this week when some thought the federal government could not rise to the challenge. But thanks to the hard work of members of both parties in both Houses -- and a spirit of cooperation between Capitol Hill and my administration -- we completed this bill in a timely manner. I'm especially grateful for the contributions of Speaker Nancy Pelosi, Minority Leader John Boehner, Majority Leader Steny Hoyer, Minority Whip Roy Blunt, Chairman Barney Frank, Ranking Member Spencer Bachus.
What isn't known is whether it will be successful-I have my doubts-or have any impact at all.
There is another possible crises looming, something Warren Buffett has called financial weapons of mass destruction, that is, default swaps, a type of derivative contract. These are worth around US$62 Trillion dollars.
This clearly puts $800 billion in the shade and are teetering on the edge of collapse themselves.
Hold onto your hats, it ain't over yet.
c Political Animal 2008
Posted by Share Investor at 8:56 AM 0 comments
Labels: 700 billion b, Emergency Economic Stabilization Act of 2008
Magnum Farce
Dick of the week is Detective Senior Sergeant Dave Pizzini, a member of the South Auckland Police who has charged an individual for defending himself in another liquor store hold-up:
"Ring 111, observe what is happening and let police deal with these situations," Mr Pizzini added.
c Political Animal 2008
Posted by Share Investor at 12:01 AM 0 comments
Labels: crime and punishment, Self defence, South Auckland
Friday, October 3, 2008
CSPAN VIDEO: Full 2008 Vice Presidential Debate with Gov. Sarah Palin and Sen. Joe Biden.
This is the full 2008 Vice Presidential Debate with Gov. Sarah Palin and Sen. Joe Biden as screened by CSPAN.
If you would like separate short clips of the same Vice Presidential debate please go here.
Posted by Share Investor at 9:42 PM 0 comments
Labels: CSPAN: Full 2008 Vice Presidential Debate with Gov. Sarah Palin and Sen. Joe Biden.

