Posts by InternationalObserver
Last ←Newer Page 1 2 3 4 5 Older→ First
-
This funny .... presumably Jerry O'connell has no plans to work with Tom Cruise ...
-
excerpt from an article written by George Soros, published by FT
Every time the credit expansion ran into trouble the financial authorities intervened, injecting liquidity and finding other ways to stimulate the economy. That created a system of asymmetric incentives also known as moral hazard, which encouraged ever greater credit expansion. The system was so successful that people came to believe in what former US president Ronald Reagan called the magic of the marketplace and I call market fundamentalism.
Fundamentalists believe that markets tend towards equilibrium and the common interest is best served by allowing participants to pursue their self-interest. It is an obvious misconception, because it was the intervention of the authorities that prevented financial markets from breaking down, not the markets themselves.
Nevertheless, market fundamentalism emerged as the dominant ideology in the 1980s, when financial markets started to become globalised and the US started to run a current account deficit.Globalisation allowed the US to suck up the savings of the rest of the world and consume more than it produced.
[emphasis is mine]
-
Regarding the H2GO/photo thing, is there actually any right in NZ *not* to have one's photo taken in public and used for any purpose?
There is such a right. My memory of the discussion I had with someone is that you have rights over your image and its use for certain purposes. When it comes to commercial purposes, news media have some exemptions, but companies can't just take a photo of some hot woman drinking their product and then use it for advertising.
And a year or two ago a family complained (I don't recall if they sued in court or went to the Broadcasting Standards tribunal) about being filmed while trapped in their car and having it used for a TV show (**not** the News).
They had been in a car accident and were pinned in their car for an extended period of time and had to be cut free from the car. Mama was wailing away and in great pain/distress. The camera crew who filmed it were not working for the news but a TV show (Motorway Patrol or similar). The family did not want the footage included in a commercial/entertainment programme and felt the TV show had no right to compound their suffering by rebroadcasting the incident.
Whoever judged this complaint acknowledged the programme makers__ were__ operating for commercial gain, but that the public benefit (of learning from the accident and its aftermath) outweighed the private suffering of the family. So the footage could be aired.I don't agree with the decision.
-
PS: to clarify, I don't think you've been unwise, I think you've been unlucky
Yeah I don't think I've been unwise either but I don't think 'unlucky' covers it. I hate to come across as a Japanese institutional investor, but it seems all my investments are dogs and I'm pissed.
And yes, just like the 87 crash, I think most 'common folk' are going to bail on investing in the sharemarket.
Which is why Kiwisaver will probably be made compulsorary after the election (by either party).
FYI - if I'd retained my properties instead of selling them I would have 65% equity and be positively geared. I've never had a problem with tenants, cos I'm such a sweet guy!! </honest!>
FYI 2 - after 5+ years in the stockmarket I'm $30k down on when I started. All I got wuz the dividends along the way ...!
FYI 3 - yes, I'm just venting here today, sorry to upset ppl, I feel better now ... </I'm better off than many, and not really much else to complain about> -
Was rather glad to get a letter from my Kiwisaver provider (Fisher Funds) the other day saying they had processed my application to join but that the IRD holds the funds for the first 3 months and is paying me 6% interest until they hand over. Better that than being in a stock-weighted fund right at the moment...
Lucky you! My Fisher Funds Barramundi units have dropped 30%, and their Kingfisher units are also way down. My portfolio has dropped $30k in the last two weeks. Bummer.
Where did I go wrong? A few years back I took Cullen at his word and got out of property, and put it into index stocks (TNZ, WiNZ, Ozzy, Mozy, etcc) which is what Mary Holm and others recommended passive investors should do.
I say again: Bummer. But I need not worry, because now the pundits have pointed out that it only took two years for stocks to recover from the 87 crash, and 9/11. Guess what I'll be doing in 2.5 years?
</cue Labourites responding with "if you'd kept your money in property you'd also be crying right now". No, I wouldn't.> -
I was issued with broking code numbers so I could 'earn' trail commissions
As well as all the pamphlets and documents I needed to sign people up with, of course ...
-
Re Stephen's comment on fat fees by money managers, I have often wondered if one could set up your own advisory firm and secure the discounts for yourselves and friends on perfectly straight-forward investments.
I did exactly that in the 90s! I already had a consulting company registered, and 2 years later it occured to me that I could save on brokerage if I registered as a 'financial consultant' with various financial institutions. To date my company had nothing to do financial consultancy but that didn't seem to matter. If I said I was a financial consultant then I was one, and I was issued with broking code numbers so I could 'earn' trail commissions.
And not just by small fish either, the National Bank were also keen for me to sign clients up to their unit trusts. This was all done by email (and a Post Box) - I never personally met any of these financial institutions who made me their agent! Pretty damn spooky, and proof that we have a cowboy financial industry.
But that was last century, she's all good now, no cowboys allowed ...
-
Nice work, but maybe my view is coloured by Nina and her fetching outfits! </sigh - I'm so ... male>
Seriously, good luck trying to get something like this on NZ TV. I came back from my OE in the early 90s with similar thoughts, after seeing similar on UK/Europe TV. The response I got was "there's no budget". C4 should be into something like this for their Sunday movie but I'm guessing there's still 'no budget!'.
(NB - I actually had/have no telly experience so that might have been a factor too!!)
-
I live a few doors down from this 100? year old villa. 2 days ago the 'renovationspecialists' seemed to be demolishing it (by hand, no bulldozer). I asked how much they were saving and he responded "nothing, we're taking it all down to the floorboards". And by crikey, looking at it today that would appear to be exactly what they're doing.
But how can this be I wondered? It's a very old house, in a Res 1 street no less. Why you just need to look at the identical house next door to see it's heritage value ... and didn't Auckland City Council introduce new controls to prevent this sort of defacto demolition?
And how on earth did they get the non-notified consent? As a member of the public I don't know the answers to these questions, but if there are any journo's here on PAS maybe they can get to the bottom of it??
From the Auckland City Council website
The Auckland City Council has voted to adopt new planning rules which offer greater protection for the city's character suburbs.
The new rules introduce tighter controls for the demolition or removal of pre-1940s homes in residential 1 and 2 zones...
The residential 1 zone is intended to protect the built historic character of Auckland's early established residential neighbourhoods. Promoting the survival of the historic form of these neighbourhoods is the primary objective of this zone. The zone includes large portions of Ponsonby, Grey Lynn, Herne Bay, St Mary's Bay, Freemans Bay, and Mt Eden, with smaller pockets in Ellerslie, Onehunga, Parnell, Avondale and Otahuhu. These areas are dominated by a large number of villas and bungalows which contribute to their valued special character.
Hmmm, 43 Hackett Street seems to be covered by this, but I guess not?
-
Afterwhich you must then also master this