Posts by Sacha
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Lay off our mate Mubarak says Israeli government.
Israel's concern at the popular unrest in Egypt is not just about the internal affairs of a near neighbour, but the strategic issue of its 30-year peace treaty with the largest Arab country, once its bitter enemy.
...the government is seeking to convince the US and EU to curb their criticism of Hosni Mubarak to preserve stability in the region, even as Washington and its allies signal their wish for an "orderly transition" which the incumbent almost certainly cannot ignore.If democracy is the issue on the streets of Cairo, stability is Israel's paramount interest.
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The nightmare scenario would be abrogation of the peace treaty under pressure from an Egyptian public that has always been hostile to it, though the US would likely work hard to prevent that. -
Some pictures
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OnPoint: Election 2011: GO!, in reply to Jim Cathcart,
Well, I think that NZ needs a well-functioning stock exchange if we want a dynamic economy
I appreciate the argument that making part of these public assets privately tradeable helps the scale of the market.
I'd like to hear supporters make a better case that getting all taxpayers to fund that move will benefit more than the fortunate few who are already wealthy, foreign investors and banks, and brokers. And without risking the viability of a crucial underpinning of our future economy, our electricity system.
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Hard News: Because it's about time we…, in reply to BenWilson,
had a nice one today on Waiheke
that's enough to count
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OnPoint: Election 2011: GO!, in reply to Jim Cathcart,
why would you pay for my opportunity?
I was referring to my previous comment about the value transfer from underpriced initial offers that we've seen before:
first-round investors all sell out at the non-discounted market rate to foreign investors happy to pay for a guaranteed low-risk infrastructure asset backed by government bailout if needed. Another successful transfer of wealth from all taxpayers to those Kiwis who can afford to buy shares.
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OnPoint: Election 2011: GO!, in reply to Ross Mason,
a sock exchange
Most homes could do with one of those
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OnPoint: Election 2011: GO!, in reply to Matthew Poole,
If we're going to sell shares in our state-owned businesses, it should be to people who will hold onto those shares for a long period of time.
Kind of like bonds, you mean?
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OnPoint: Election 2011: GO!, in reply to Jim Cathcart,
what it might do is encourage some people to take ownership of some assets besides rental properties
Which could also be done by implementing a CGT - but without making the rest of us pay for your opportunity.
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OnPoint: Election 2011: GO!, in reply to Dismal Soyanz,
it would be necessary to sell at a discount in order to induce NZers to buy the shares (especially as they already own them indirectly) -meaning the actual price may end up slightly lower than fair value.
Sounds awfully familar. Next step, those first-round investors all sell out at the non-discounted market rate to foreign investors happy to pay for a guaranteed low-risk infrastructure asset backed by government bailout if needed. Another successful transfer of wealth from all taxpayers to those Kiwis who can afford to buy shares. And perpetually exporting dividends as well as sovereignty. How original.
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OnPoint: Election 2011: GO!, in reply to Jim Cathcart,
If the debt associated with non-productive investments (such as bidding up house prices) grows, then the productivity of the economy will decline as the capital available for productive investment diminishes.
A government with balls would respond with a capital gains tax. Whatever else you may think of them, at present the only party saying that seems to be the Greens.
"Instead of inheriting public assets, the next generation will inherit $84 billion in National Party debt. National needs to stop bludging off our grandkids," [Russel Norman] said.
The truth was that the Government needed more revenue and the Greens were the only party willing to put forward a serious plan to generate revenue, a capital gains tax excluding the family home.
It would move capital away from property speculation and towards the productive sector; reduce house prices, helping to make home ownership a reality for more New Zealanders; and it would reduce spiralling government debt.
Dr Norman said National was bereft of economic vision in the wake of the "catastrophic collapse" of the neo-liberal economic model.
"The old order is dying but what will replace it?"