Tuesday, September 30, 2008

They give with one hand and take with the other


How ironic that in the week Liarbour's taxcuts, which they had to be dragged kicking and screaming to implement,, Contact Energy increases power prices by 10%.
Government ministers say they will scrutinise the increase.
I just saw OneNews who reported the rise, adding Mercury and Meridean have also just announced power price rises.
How interesting, as who owns all three power companies, but the government!
Thus, as Homepaddock blogged earlier, government gives with one hand and takes with the other.
Political Animal Darren Rickard also highlights further government culpability.
Government policies are restricting extra power generating capacity and its beloved ETS spell for further power price rises.
Indeed, and what are the effects of expensive power? People dying through not paying their bills?
We all remember the Muliaga scandal , don't we?
For of we are to blame Mercury Power, then equally Dear Leader has blood on her hands as Mercury is an SOE, meeting finance targets set by Finance Minister Michael Cullen.
So yes, trust Mickey and Helen to take with one hand and give with the other, and trust them to be responsible for all/most of the problems in the power industry.
They talk about lack of competition but they have certainly left it late to be tackling the issues now- nine years after they too office.
So when you get you next bigger power bill, you know who is to blame, but Liarbour!

A nice little slogan for the election campaign

Here we are just 5 and a bit weeks from Election Day and there seemed a dearth of political and campaign news and analysis.
The biggest story seems to be that Uncle Helen and John Boy stitched up a deal to keep out the smaller parties from a tv leaders debate.
Meanwhile, the world maybe on the edge of an economic abyss, we have rising inflation, high fuel prices, recession, constrained incomes, severe crime problems, fear on the streets, problems with drugs and under-age prostitution, failing health, education, and other government services.
Globally, we have unsafe food from China, threats of terrorism and for the believers, climate change.
Yet, are these issues being addressed or considered? Hell no! The media remains obsessed with trivia, gameshows, hollywood movies, reality shows; and when something politically important happens, like Winston Peters appearing before the privileges committee, Tv3 turns it off for the Simpsons!
Our politicians also refuse to engage in a proper debate, prefer to reduce everything down to simple slogans and even use the most ironic of them like saying it's about trust while they resort to cheap muckraking.
When we see such big issues facing us all and our tweedledum and tweddledummer parties barely addressing the issues and being more concerned about not frightening people instead of winning them over, it is becomes somewhat frustrating.
Indeed, how can you fill a bog with ten posts a day when there seems to be sod all happening, when that is obviously not the case:)
Old Holborn has found a film clip we should perhaps all adopt for this election campaign.
Maybe we should all open our windows and shout it from the rooftops!


Democrats to blame for Wall Street woes



I was listening to Newstalk ZB today and a couple of time, a commentator would largely blame the Republicans for the failure of the trillion dollar bailout, because the bulk of the Republican senators voted against the bill.
However, while Barack Obama seems to be making the most political capital from the crisis, we must still remember that the Democrats are largely to blame for the current crisis.
First, their ideas encouraged the banks to lend easy money for politically correct affirmative action reasons, when such loans were to people who could not afford them.
A few years back, the Republicans tried to regulate Fannie and Freddie, but were thwarted by the Democrats, many of whom, including Barack Obama receive kickbacks from Fannie and Freddie.
Economist Stan Leobowitz explains how Liberals created the Wall Street woes of today.
Newsbusters highlights a New York Times story from 1999, rvealing how in the Clinton era, Fannie and Freddie eased their lending criteria.
Fox News sums up how it happened in just a few minutes.




Here are some congressional hearings a few years back and look how the Republicans are demanding tighter regulation of Fannie and Freddie but the Democrats kept saying no, and they won.



Look here to see who was in the pay of Fannie and Freddie- leading Democrats including Barry Obama , John Kerry , Hillary Clinton and Nancy Pelosi. I wonder if these two facts are in anyway connected?

Here we have the Fannie Mae CEO praising the Congressional Black Caucus and the Democrats, with more footage highlighting how Obama and other Democrats took fannie and Freddie money while blocking sifficient regulation of Fannie and Freddie and blaming the Republicans today.




Finally, watch this comprehensive 10 minute You Tube offering looking at 'affordable' mortgage policies, a housing bubble, the Democrats and Barry Obama all playing a role in the current crisis.

Uncle Helen needs a hammering


Go On!
I know you want to!
Enjoy this Whack-a-poll game.
And for all you Liberatarians and hardline ACT supporters out there, you can hit John Boy too!

Swings And .................................

Here's a pretty conservative portfolio which at 11.00 a.m. on Friday a week ago was worth $306k.

On Friday last week it was worth $320k

A few minutes ago it was worth:-


SYMBEXCHLASTCHANGEPRICESHARESCOSTVALUEGAIN/LOSS
AMPNZX8.000-0.5005.88%8.3201,800$15,085.00$14,400.00-$685.004.54%
BHPASX34.24-1.604.46%26.13650$19,759.55$26,573.67$6,814.1234.49%
CAVNZX2.400-0.2409.09%3.6503,650$13,399.16$8,760.00-$4,639.1634.62%
FPANZX1.600-0.1106.43%3.7899,629$36,559.24$15,406.40-$21,152.8457.86%
FPHNZX2.9300.0501.73%2.70310,140$27,588.45$29,710.20$2,121.757.69%
HLGNZX2.500-0.37012.89%4.74010,900$51,666.00$27,250.00-$24,416.0047.26%
MIGASX2.290-0.0803.37%3.5506,500$23,237.00$17,772.69-$5,464.3123.52%
NABASX25.69-0.110.42%38.30460$20,495.92$14,109.98-$6,385.9531.16%
NZRNZX6.500-0.3004.41%7.2206,900$49,818.00$44,850.00-$4,968.009.97%
PGWNZX1.600-0.1408.04%1.97016,400$32,538.66$26,240.00-$6,298.6619.36%
STUNZX3.750-0.0501.31%4.6305,400$25,002.00$20,250.00-$4,752.0019.01%
VCTNZX2.090-0.1305.85%2.40013,400$32,389.62$28,006.00-$4,383.6213.53%
WESASX28.41-0.872.97%30.05750$22,695.50$25,441.15$2,745.6512.10%
SUBTOTAL
$370,234.10$298,770.10-$71,464.0219.30%


Funny thing is the fundamental soundness of these businesses has not altered.

In six months' time, everybody will look back and say, "What was that all about?"

These companies weren't involved in shonky lending, so why were they too bid down?

The reason the 'bail out' must be made to work is the perception by the public that somehow there is a crisis more deep seated than a correction for a vast instutionalised orgy of reprehensible banking practice, all of which was brought about by The Democratic Party. Even when Dubbya and his mates sought to stop it, the Doncs voted the legislation down.