. . . promoting capitalist acts between consenting adults.
Bernard Hickey has some sobering observations for local investors looking at the panic on Wall St.
A good article.I would take issue with a couple of things he says...firstly, it was not much of a surprise that Bear Stearns went tits up at the weekend, and that company was certainly not in any sort of "relatively healthy" condition last Wednesday.Secondly, I think a major meltdown and recession is actually a good thing because it creates bargains, enables huge profits to be made from selling short (ahem), and will eliminate some bizarre and 'reckless' behaviour of the 'borrow and consume' variety for a generation or so (much as the '87 Sharemarket crash eliminated some reckless behaviour for a generation about buying shares in dodgy companies)
You will find the offshore opinion is significantly different to Hickey's. NZ will not be affected all that much, and is in fact viewed as something of a safe haven. All NZ economists are either employed by banks, selling their book, or have an axe to grind. Which is well known to everyone except NZ bloggers, it seems.
Anon : Which is well known to everyone except NZ bloggers, it seems.Anonymous, do you know a thing or two about the financial market? OMG, you're not one of those stock-brokers , are you? Stock-brokers are all dumbfucks who know nothing about economics, let alone the financial market. That's why you quoted some unspecified offshore opinions, because as a stockbroker like yourself, you know fuckall about the market.
Steady on there Anonymous!That's like saying all NZers live in NZ, breath air and have an opinion about something. So what?---I disagree with you about NZ. It is not be a safe haven for investors. It is being affected seriously by what is occurring off shore.---Governments and central bankers need to understand that debasing the means of exchange can't go on indefinately. People have got to understand that central banking, fiat currency and inflation are the products of corruption. Such systems of behaviour are not the path to wealth, let alone freedom or even civility. LGM
Anonymous said... "You will find the offshore opinion is significantly different to Hickey's."Hickey gives reasons, you give none.Even as an argument from authority your argument fails; who ever heard of an anonymous authority.Sheesh.You say "Everybody knows." Yeah right.
The Centre is working on two new projects with strong international input. The first is to prepare a "Declaration" along the lines of the "Manhattan Declaration on Climate Change" but authored by maybe a dozen experts drawing the connection between Climate alarmism, Smart Growth regulation and the financial melt-down. The final version of the paper I presented in New York has the title "Why Urban Planners love Global Warming – or How Climate Alarmism has led to the Risk of World Wide Recession."You can see the paper with the original title at: http://www.fcpp.org/images/publications/HeartlandGaspF-2.pdfThis release by Bloomberg draws the strong connection between land regulation and the financial meltdown. The Centre's paper simply moves one step further back along the cause-and-effect chain. The Centre is not arguing that Climate Alarmism is the only excuse for Smart Growth rules, but it has certainly dominated the definition of "sustainable", as in "sustainable urban form", over the last ten years or so. Go to:http://www.bloomberg.com/apps/news?pid=20601039&sid=aTGvWJvbonR0&refer=home