Wednesday, October 8, 2008

FULL VIDEO: Second Presidential Debate, Barack Obama and John McCain, October 7th 2008, Belmont University Tennessee


This is the second presidential debate between Barack Obama and John McCain held at Belmont University Nashville TN at 9.00pm ET, 7 October 2008.

It is in 20 parts, starts at number one above and continues with a further 19 parts below.   

The full C-SPAN video on one cut can be seen here at Political Animal.

Please comment here about the debate. Your opinion will be visable at the bottom of this post.


video(Part 2) Second Presidential Debate10/07 (HQ) "Who ...


































You can comment here about the debate. Your opinion will be visable at the bottom of this post.





c Political Animal 2008

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

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.


Having said that the move is practically stupid because in reality tax cuts stimulate economies and in a time of cut backs, any money in the economy spent by Darren and Karen six pack is much better than it being spent by Government departments.

The focus on lower income earners for tax breaks is also inherently unfair and stifles productivity and aspiration for those on lower incomes to earn more.

A dumb move overall in my not so humble opinion.     


c Political Animal 2008

Tuesday, October 7, 2008

More new taxes from Labour

Labour call it a "levy" but it is a tax.

In the face of a serious local recession, a probable global recession , or worse, we see today Labour allowing local councils to pass a 10c a litre fuel tax for Auckland:

Ms King congratulated the Auckland Regional Council and Rodney District Council for their successful proposals.


Ms King, the Transport Minister, passed the tax in the face of massive public opposition and warnings from Auckland business leaders that 10c a litre tax would have a drag on the economy and an increase in inflation through increased business costs and associated price rises for goods and services.

When pressed by Larry Williams on his afternoon Newstalk ZB show today that the first tranche of the tax, a 2c increase in July 2009, would cause economic pressure, Ms King answered that petrol increased by that much in a week sometimes and implicated therefore that consumers wouldn't notice it.

Some do Ms King and at 10c a litre when fully implemented that is a significant drain on an economy in deep trouble, an economy Treasury's books say will be in deficit for 10 years!

How about changing tack when economic circumstances deteriorate?  That Anette, is what business does.

Of course this 10c tax is on top of approximately 20c a litre for Labour's dopey "climate change" legislation.

Simply more out of touch stuff from our dopey politicians.


c Political Animal 2008


Quote of the week

A brilliant quote from a caller to Newstalk ZB's Leighton Smith last week, that I just remembered:


"An election is alot like an advanced auction for stolen goods".



c Political Animal 2008

Time to focus on Michael Cullen's economic mis-management

Michael Cullen has fucked up the economy , lets be clear about that, I have been saying it for years and we are now in a disastrous financial position thanks to his mis-management of the economy.

I cant for the life of me then understand why the media is focusing on how John Key will pay for much needed tax cuts when the answer lie in what Michael Cullen has been wasting our money on for the last 9 years, bureaucracy, free money and wastage on things like KiwiRail, Working for Families welfare and interest free loans.

Cut back these and the stimulus of tax cuts will be easy to afford.

The real questions should be asked of Cullen.

How did he manage us into the recession we are in?
Why didn't he cut back unproductive spending?
Why didn't he cut taxes years ago?
Why given a looming recession did he buy KiwiRail for 6 times more than it was worth?
Why did he hire so many bureaucrats -an increase of more than 40% over 9 years-the health portfolio has 1 bureaucrat for every hospital bed!
Why did you buying votes with billions of taxpayer dollars before the 2002, 2005 Elections

Some serious questions have to be asked of Michael Cullen. He has spent our money like a drunken sailor over the last 9 years and simply doesn't care because the spending fits Labors socialist agendas.

The blame for our current mess lies almost completely with him. Outside forces have only had a minor influence thus far but will impact at a latter date.

He has simply spent everything New Zealanders have earn't over the last 9 years and he has dropped us in it.

Yesterdays books should mean toast for Labour for the 2008 Election and the media focus should be on their reckless fiscal ways not on erroneous stories about how National will afford tax cuts.

Helen Clark is right that the 2008 Election is about the economy, about how badly Cullen has managed it.


c Political Animal 2008


Monday, October 6, 2008

Vegemite hits one billion

After blogging like a crazy M' effer today, I am almost sick of politics:




So it is time for a break from politics, so lets go to commercial. The Vegemite commercial has been posted to commemorate the one billionth jar of Vegemite thus far produced.

I eat this stuff at least once a day and have done everyday of my life. My day ain't complete without it.

It is salty like a tear and comes from making beer.

I just LOVE it!!! 






c Political Animal 2008

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:


Despite that, Dr Cullen said now was the not time for "a slash and burn response" to government spending, or more tax cuts.

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.

NZ Herald

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."

Political Animal

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."

NZ Herald

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



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.

NZ Herald

"It is not a time for rash political promises"

Michael Cullen, Newstalk ZB 3.00 pm news break, Oct 6 2008



So not only are New Zealand citizens faltering under massive personal debts because of Labours high tax rates but the socialists have finally come home to roost and our economy as a whole is well and truly rogered.

Clark and Cullen have blamed economic forces outside Government, but what is clear is that over the last 9 years Cullen and Clark have raped and pillaged while New Zealand has burned and they haven't saved for the inevitable rainy day.

We need tax cuts now more than any other time because of the growing market turmoil and we should look forward to the stimulus that National's tax package, announced on Wednesday, will bring to an economy managed into a deep recession by the dithering Dr Michael Cullen.

We will be in much deeper doo doos than we already are with another 3 years of Labours tax and spend regime.

Helen is right again this morning when she says this election is about the economy. Unfortunately the last 9 years of Labour Government has been about spending our money not helping to increase it.

Experience in business, financial markets and economic realities instead of socialist ideologies is needed and we need a man with the former rather than a sticky fingered socialist like Michael" Little Prick" Cullen.


c Political Animal 2008


Limo Drivers on speed

One of 32 $170,000 7 Series luxury Crown Limos purchased by Labour a few months back. Several ministers of the Crown have ordered their drivers to speed after Helen Clark set a precendent for speeding when she ordered her driver to speed at 170km per hr through a 50km zone in a 2004 dash to a rugby game.




The only part of the economy with its foot down appears to be the Crown Limo service:

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.

Stuff.co.nz

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



John Key pulls the birds


The all important Women's vote is swinging John Keys way:


National has increased its DigiPoll ratio of women by 2 per cent - from 45 per cent in 2005 to 47 per cent this year.


Admittedly it is only a small shift but along with the big increase in support from the all -important Auckland electorate, one the Labour Party got more votes in at the 2005 Election, it continues the overall support shift for a change in New Zealand. A change towards a National Government in 2008.


This is trend that started over a year ago and all the political polls over the last year or two reflect that.

See the latest polling results here.

c Political Animal 2008

Hypocrites Unite

More hypocritical, political nonsense from Labour and Helen Clark:


Cabinet will today discuss whether Contact Energy is abusing a position of market dominance by introducing 'unjustified' price increases, Prime Minister Helen Clark says.

Helen Clark said it was a serious matter.

"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,"

NZ Herald

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

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."

NZ Herald

"...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



Watts up with that?

I came across this site because they linked a story of mine to their site.


It is a site debunking the climate change myth and is based on fact and science from Meteorologist Anthony Watt:

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

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.


A selection of comments from the left astound me and I wonder really if Labour supporters have been lobotomised from all that taxpayer cash removed from their wallets or from getting mine in their pockets?

Do they miss a vital chromosome?

Are they the missing link? 

Is the country of Brazil missing some nuts?

Here are a couple of the comments that not only defy gravity but are separated from reality-in my small mind anyway:


Katie Roland (Castor Bay) "These are all measures that quite frankly make me proud to be a New Zealander living overseas. So, to answer your question, I'll be voting for Labour come November."

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.


Katie from Castor Bay is so proud she no longer lives in New Zealand but will nevertheless strangle us with her voting preferences come November 8. They haven't done anything for you Katie from Castor Bay they have done it in spite of you.

Dan X (Auckland) Clark and Labour have done very well in the past nine years, and as with all progressive, forward-thinking governments will be looked back upon in the future with pride by the vast majority. It's a pity so many at the time can't see past their own bigotry and complete lack of understanding of the issues. I look forward to a future where parents who beat their children senseless are prosecuted; that children don't have to grow up in poverty just because they had the misfortune to be born into a poor family; and elections that can't be bought.

Dan X from Auckland is taking the Helen Clark approach to commentary, attacking those that disagree with him. The last comment about "bought" elections titillates me, who bought the 2005 Election, with $800,000 of taxpayer money illegally used? Yes it was Labour Mr X.

Tom (Birkenhead) Helen Clark is internationally respected and her leadership of the Nz labour government has earned New Zealand and New Zealanders that same respect. Her prime ministership has been one with a conscience. The Labour government has been forthright before each election about what it would deliver and it has delivered on those promises. Those NZers who parrot the phrase, "It's time for a change" with reference to National cannot have the faintest idea what this would really mean. National's lack of policy after this long in opposition, its backtracks and its ministers' cynical statements about 'swallowing dead rats' point to a party that has no respect for its voters. At least we know that the Labour party and Helen Clark stand for and believe in.

Perhaps the funniest out of the comments.

Tom, "Her Prime Ministership has been one with a conscience?  Tom, Tom, Tom, what sort of conscience makes a Prime Minister lie like a sewer rat every time she gets into a tight spot?

Forthright about what they will do before an election?

Passing the Electoral Finance Act
Removing the Privy Council
Anti Smacking Bill
Civil Unions
Working for Families Welfare
Veto on Auckland Airport being sold

None of these things were canvassed before elections and we have no Election policy so far pre the 2008 Election.

Tom certainly has is head somewhere and it isn't in the clouds.

I will leave the last word to two insightful individuals, Pam H from Leigh and Steve Marshall from Rodney Hide's electorate, Epsom. They counter the spurious drivel from the non thinking, lobotomised socialists from above

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. 


Its your right!

Enrolments close on Wednesday 8 Oct





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.


This election is really about the economy. If it is about trust, then it is about who you would trust to manage their way through a deep recession, one that we are already in by the way.

Michael Cullen and Labour have mis-managed their way through 10s of billions of taxpayer dollars over the last 9 years.

Given that we have had the best economic conditions in generations, our economy did average to poor and the high taxes that were siphoned off during those good times has produced nothing but a bloated bureaucrat heavy unproductive nation on the brink of economic collapse.

As a voter you would have to ask yourself, where was the restraint, where was the saving for a rainy day approach? Instead we got the Robin Hood plunder the taxpayer approach to give to those who didn't earn it in the first place.

The fact is Cullen found it difficult to manage an economy with the best economic conditions in generations, with economic conditions at crisis levels he is a mere possum caught in the headlights.

All quotes are from the Granny Herald:


"New Zealand is facing a serious economic challenge..."

Aug 29

"There's a lot of factors coming together there," Dr Cullen said. "I think probably the worst is over now."

Sept 12


"...but the economy was vulnerable to an expected slowdown in the global economy.
..."

Sept 15

"...was welcome news ahead of the expected recovery in the fourth quarter of this year".

Sept 29

"...the problem could earlier be deemed a financial crisis rather than an economic one, it was getting beyond that now".

Oct 1

Michael Cullen seems more than a little schizophrenic on the state of our economy and while so unsure about it he has continued spending like a drunken bloody sailor to buy votes for the 2008 election!

The truth is Michael Cullen's only success in his nine years at the financial helm has been to overtax working kiwis and he has done that very well, he achieved his socialist goal, but when it comes to matters productive his petticoat is showing and it is in need of a damn good wash and disinfectant.

You are better off with a man who has experience in complex financial matters, not a PHD in History, as Michael Cullen is, a man who has run a business and knows about growing that business, in good times and bad.

John key is that man and his life from welfare recipient to multimillionaire through hard work and determination is evidence of that.

The 2008 Election really is about the economy and there is nothing stupid about that.







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.


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


c Political Animal 2008

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.


The Maori Party have publicly slagged Helen Clark and Winston Peters, the former for being a washed up pollie on her way out, and the latter an issue of deep distrust over Peters and his philandering ways with undisclosed donations.

The Maori Party are right to cosy up to National, they are both inherently conservative, apart from the basic racist platform that the Maori Party operate under, and both have a long history of connections with each other-National were the first to kick off the major treaty agreements that we are now seeing Labour take credit for.

National are in a position, given their strong and sustained poll ratings, to offer Maori Party voters and Maori voters in the Maori and general seats more, the Maori Party know that and Key is far more pragmatic and easier to negotiate with than Clark, so will make any post election deal far easier.

In negotiations after a probable National Party majority win, National may need Maori Party support and the delivery of results under National for Maori in the 1990s would continue under a National banner this century.

If we look at how poorly Maori population have been served in the last nine years under Labour we don't have to look far at the disappointing statistics:

Higher Maori unemployment and dependant on welfare

Poor health outcomes

Lower levels of education participation

Maori make up a much larger proportion of the crime and prison population

And so it goes on.

The outcomes for Maori have been far worse under Labour for the last nine years and the unpopular "Seabed and Foreshore Act"  passed by Labour was the impetus for the birth of the Maori Party and Maori Party members and wider Maori haven't forgotten that.

The crack by Clark before the 2005 election that:

"The Maori Party would be the last cab off the rank in any coalition talks,"

will also come back to haunt her and her party during the 2008 campaign, although earlier this week her last cab remark was replaced by a "first limo" statement about any possible 2008 coalition negotiations with the Maori Party because she is desperate.

A National/Maori Party coalition would be a natural and exciting fit for a new government until 2011 and Labours last minute attempts to curry favour with wider Maori by passing treating claims at breakneck speed is unlikely to help.

The only solution to the current problem therefore is for Maori Party voters to give their party vote to National instead of labour.



A right royal poking

http://www.dontvotelabourcartoons.com/gallery/cartoon6.jpg

Stan Blanch is a quirky little cartoonist who has a position of bias against Helen Clark and her Labour Party and that is fair enough, she deserves a good poking (I wouldnt touch her with a 40 ft stack of donation money from Owen Glenn though)

In this cartoon political poking has turned to poking of a different sort, Helen Clark's lack of personal responsibility over her involvement in the Owen Glenn/Peters donation scandal and lack of consequences or serious censure for both because of Clark's lust for the top job in 2008 brings her honesty back into sharp focus and New Zealanders will be poked up the rear if she is elected for a 4th term.

Voters cannot forget that her inability to act on corrupt practices by Peters, her major supporter in Parliament, puts the trust in the potential leaders that we must have under serious question.

Vote wisely November 8 .

Its your right!

c Political Animal 2008


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

Annual Results 2008 - Audio Webcast


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

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
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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.

      Continued

Play Video  Video (Windows)

<span class=White House News

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

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:


Pizzini said the arrest serves a reminder to all that taking the law into their own hands in some circumstances can not be justified.

"Shop keepers and the general public can be reassured that the police will respond with urgency to situations where assistance is needed.

"Ring 111, observe what is happening and let police deal with these situations," Mr Pizzini added.

From Stuff.co.nz


It continues the same vein of politically correct policing that we have seen in a number of similar cases over the last few years that has led to the death of members of the public and police, arrests for victims defending themselves and a consequent increase in this type of crime.

A copycat attack this evening where a lotto shop owner is now in a serious condition is no surprise given the nonsense from moronic cops like Pizzini, and there will be more.

Political pressure on police hierarchy from the Police Minister and Helen Clark to go easy on what is Labour's voter base-the majority of these crimes have occurred in Labour's South Auckland-doesn't seem far from reality. 

New Zealand's PC police constables need to be directed by the Commissioner to police instead of being involved in PC nonsense like this.

We are in danger if we cant defend ourselves, and we are increasingly having to because police often don't come in time when called, if they bother to come at all.

It is political and can be blamed on a Labour Government who want to go easy on criminals and make it tough for the ordinary kiwi-as they do in every other government department they use to lord over the populace.


Related Political Animal reading

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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. 


It is in on one clip so it is convenient to use.

If you would like separate short clips of the same Vice Presidential debate please go here.

The two Presidential debates will also be seen here at Political Animal when screened latter in October.


c Political Animal 2008