Fair enough...
I haven't read all of it yet... but this was the opinion of Citibank 5 years ago. The US, UK, Oz etc... are Plutonomies according to the bank...
"HOW TO PLAY PLUTONOMY
So, Plutonomies exist, and explain much of the world’s imbalances. There is no such thing as “The U.S. Consumer” or “UK Consumer”, but rich and poor consumers in these countries, with different savings habits and different prospects. The rich are getting richer; they dominate spending. Their trend of getting richer looks unlikely to end anytime soon.
How do we make money from this theme? We see two ways. The first is simple. If you believe, like us, that the Plutonomy exists, and explains why global imbalances have built up (for example the savings rate differentials), and you believe there is no imminent threat to plutonomy, you must in turn believe that the current“end of the world is nigh” risk premium on equities, due to current account deficits, is too high.
Conclusion: buy equities."and from those who control the purse strings
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I didn't think!!! I experimented!!!
but my appraisal of the lovely John Key is that he is basically a dumb blonde. He made a shit load of money gambling on the money markets and worked incredibly hard to become rich. He's not particularly bright and is generally ooked down on by the international political and business community and considered to be a notch up from George Dubbyerbush but not in the same league as most national leaders.
He won the last election mostly because NZ was sick of Labour and Helen Clark, and partly because he had a lovely smile - I suspect a Labrador dog could have won.
The global economic crisis seemed to take him by surprise (it shouldn't have, even I was predicting it in 07 and I know zip), and his response was a jobs summit that achieved little substantive and a cycle way. Since then he and his party have reminded me of a scared rabbit staring into the headlights of a car. They have been devoid of ideas beyond meaningless tax cuts and vague and empty rhetoric about cutting expenditure. 2 years into their first term I would question whether we actually have a government.
And no, they won't lose the next election. Labour don't have any new ideas either and Phil Goff is a slightly less pretty version of John Key, so John will have another 3 years to wander around with his slightly puzzled expression as he smiles for the camera. Then we will be sick of him and his party, NZ will have continued to slide slowly backwards and the business community will have finally got sick of timid government with no new ideas. So we'll vote in an equally stupid government for another 6 - 9 years, only this time they'll be Labour.
Don't blame me, I voted Green.
Oh God...aren't you the little joy germ.
Do you realise how many holes there could be if people would just take the time to take the dirt out of them?
Are you kidding? those 2 things are currently the best money makers in the govt portfolio.
And seeing as mining is going to be impossible to do now, and shopping is down, and the govt can't touch any of the Kiwisaver stuff.....ACC and Kiwibank are sounding more like flotation devices than SOE's.
Reactor Online. Sensors Online. Weapons Online. All Systems Nominal.
And given that ACC are technically insolvent (according to the lovely Slippery Nick) they will have to accept a fire sale price for it. Any clues for guessing how much it will cost to insure ourselves against a crash? My guess is enough money to make motorcycling the domain of the rich or those who pray they never have an off.
Don't blame me, I voted Green.
There was a yahoo poll on who would win the next election the other day... yes yes internet poll... and one of the options was National to win without question, or something to that effect. There were about 13 - 14000 votes, with the above option receiving 10000+... we're dooooooooooooooomed![]()
I didn't think!!! I experimented!!!
Aye, great flotation devices until you open them up to competition... once the cumulative pot is spread across the industry, ACC will become more of a lead weight, sold off/canned with the current 12 bill in assets and the working population of NZ will then only be able to buy the cover that they can afford... The Worker account is the profitable one according to the Nats... so why open it up to competition? At least we have a year to drool over the prospect...
I didn't think!!! I experimented!!!
We need some politicians with balls....
Helen Clark had balls ... but they were always swinging to her own agenda of social engineering rather than important things like preparing for a future recession.
My thoughts when I read that as well....
However, as far as the best person to be a PM, I do tend to favor an experienced manager/business person over a career poly for the simple reason that they are there to manage rather than (Generally) there for their own political ambitions...
Well here's an alternative interpretation from the underrated Monkey with Typewriter
If the Labour party continue to believe that JK is some bumbling clown and they just have to wait for teh electorate to come crawling back to them and beg to socially engineered a bit more, then they're looking at at least another two election losses. I reckon JK is probably the sharpest, quickest studying politician I'm likely to see in my lifetime, even if he is far too bloody soft and left wing.Originally Posted by MWT
I'd prefer a govt of the people, by the people, for the people...
I'd rather have a Career Politician, than a babysitting Manager. The Career Politician will only ever gain knowledge. A Manager is what we currently have, but dats just mho.
How hard can it be to "run" a government? Easy!
I didn't think!!! I experimented!!!
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