August 2007

Cullen says NZ banking is sound – Stuff.co.nz

Michael Cullen has become the King Canute of NZ Finance trying to hold back the tide of finance company collapses.

Industry sources plus serious monied investors that I have spoken to today all say, this is but the start. They predict that there will be even more go to the wall and tears will be flowing except from them who are all cashed up and poised to make a killing.

Cullen is simply foolish to make statements such as this;
[quote]“Back in New Zealand, we don’t have the same sub-prime mortgage problems – our banking system is sound, The riskier end of our financial sector is finance companies, where we have seen some troubles in the past year.”[/quote]
that is just dumb, even supposed blue chip companies can go to the wall when the cashflow ceases and that is what will happen very, very quickly when all the oldies that have trotted up and down the main street seeking an extra quarter of a percent interest decide the mattress is safer. Once the short term money trail dries up down comes the house of cards that credit built.
Denying that we have a problem because we supposedly son’t have a “sub-prime” mortgage market is proving what every savvy investor and financier in new Zealand has known all along, that Cullen is nothing but a jumped up History Lecturer well past keeping his tenure.

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Just Left: If I were on the Justice and Electoral Committee

Jordan whilst on his sojourn to Belgium has decided to post a little missive about the draconian Electoral Finance Bill.

Now one would expect Jordan to take up where he left of with the statement in his previous post about this anti-free speech bill, where he said “Anyone who opposes it in substance is essentially saying, “I want New Zealand to retain electoral finance laws that mean elections can be bought by the people with the biggest wallets”, but no Jordan has started the official “we wuz only joking” explanation of the how to change the bill to try to make it more palatable.

If Herr Rottenfuhurer Jordan, well known lickspittle, toady and apologist of the Labour Party has decided that the bill need serious changes it can only be days away from Clark deciding to pull the bill.

that remains my position. Kill the Bill.

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John Armstrong: Labour doesn't see the funny side – Asked if he was going to Sir Robert Muldoon's funeral, a National Party Cabinet minister, who must remain nameless, confided at the time that he would be there if only to satisfy himself that the lid of the coffin had been nailed… [NZ Politics]

[quote]Until yesterday, Helen Clark had been spared the headache of a former leader running amok. Of her more immediate predecessors, David Lange somehow managed to bite his tongue when he thought things were going awry, Sir Geoffrey Palmer has remained fiercely loyal to her, and Mike Moore, barring the occasional opinion piece, had seemingly closed the door on domestic politics.

Yesterday Moore chucked a rather large incendiary device through that door by claiming the Prime Minister's hounding of opponents echoed some of the worst features of Sir Robert's prime ministership.

Having made the explosive impact he had obviously intended, Mr Moore then suggested he was really "teasing" and being "humorous" in comparing Clark with Sir Robert.[/quote]

Oh and humorous it has and continues to be. 

An anonymous emailer sent me another photo that shows more striking similarities between Dear Leader and various dictators and quasi-dictators past and present.

Sorry for that lack of posting, I had the kids Fathers Day breakfast at the school and then went to the Gym for a shoulders workout.

Now onto some posting, boy has the Mike Moore story got legs and then i have to follow up some promising leads re: The Duck and then lunch with the No Minister fellas. 

Property Finance in receivership | BUSINESS | NEWS | tvnz.co.nz

6 in fifteen months, the bloodbath continues. I wonder what Cullen has to say about sub-prime lending now.

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Blog: Moore working towards Goff as new Labour leader? – What's Mike Moore up to? Since being rolled from the Labour leadership by Helen Clark in 1993 he has been extraordinarily disciplined in refraining from public criticism of her in Opposition or in her seven and a half years in Government…. [NZ Politics]

Audrey Young blogs about Mike Moore's attack on Clark. It is quite unbelleivable reading. She is basically suggesting that there is a coup on and Clark is being lined up for the knife by Goff. Though not in so many words as that, but that is basically what she is saying. 

[quote]Clark is reportedly laughing it off. I don't believe it.

Moore may not have sway in the caucus any longer but he is still a popular and credible figure in New Zealand. And when a former leader with nothing to lose bags the incumbent, it cannot be laughed off.

Moore's breach of his own rigidly enforced discipline is not a joke gone wrong. It is part of a longer-term game.

It makes the Opposition's criticism of Clark more credible and it makes internal criticism of Clark a little easier to raise – when Goff's time comes.[/quote]

Time now to watch the whites of their eyes. There are games afoot and it will not be tiddlywinks. 

Even just a year ago a major news website would never have published the picture below. But publish they have in their story about Mike Moore's extraordinary attack on the woman that knifed him many years ago.

My, my hasn't the world turned more than just a little on Clark. i put it down to the draconian attack on Free Speech that is the Electoral Finance Bill. 

Rates review vindicates councils – Hubbard – 28 Aug 2007 – NZ Herald: New Zealand National news

Dick Hubbard is increasingly becoming the hapless Homer Simpson of Local Body Politics.

His latest Homer moment is to declare loudly in the media that the Rates Review Report “vindicates” his council.

What did he base this astounding view upon, well because his council had matched the average rates increases nationwide!!

Meanwhile other headlines tell the real story of the Rates Review that hardly “vindicates” his council at all.

Rates take more than necessary, says review
Stop spending so much, councils told
Rates inquiry urges councils, govt to act

The self proclaimed “Peoples Mayor” is actually the “Peoples Homer” Duh Oh!!

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Cartoon: Muldoonism – [NZ Politics]