Links 8 June 2018

Global Macro / Markets / Investing:






  1. Auckland business confidence in ‘free fall’ – Chamber of Commerce – NZ Herald

    The spiking price of fuel, slow progress on housing and infrastructure and the threat of rising labour costs has sent business confidence in the country’s biggest city into “free fall”, says Auckland Chamber of Commerce boss Michael Barnett.

    The chamber last week surveyed 800 businesses and found nearly half (44 per cent) believed the economy will deteriorate over the rest of this year.

    Only 15 per cent thought the economy would improve during that time.

    Compare that to June last year, when a third of businesses surveyed thought the economy would improve while only eight per cent believed things would get worse. … read more via hyperlink above …

    Comprehensive post accessible … … … with extensive further posts up – thread …

      • Housing Minister Phil Twyford says Ministry of Housing and Urban Development will help drive KiwiBuild and will be operational by the end of the year |

        The Government is setting up a new housing focused ministry, the Ministry of Housing and Urban Development, in a bid to help make houses more affordable and cities “more liveable.”

        Housing Minister Phil Twyford says the new ministry will provide “focus and capacity” to help the Government deliver its housing policies.

        The Ministry will be the Government’s lead advisor on housing and urban development and will provide advice on various housing issues, such as responding to homelessness and supporting first home buyers. … read more via hyperlink above …

      • Associate Finance Minister David Parker says the price of New Zealand homes should be set by buyers in this country, not those from overseas |

        Associate Finance Minister David Parker has confirmed the Government is proceeding with its plans to restrict the sale of residential property to overseas buyers.

        Parker said figures released by Statistics NZ showing a high level of house purchases by overseas buyers in New Zealand’s least affordable areas, vindicated the Government’s move to ban foreign buyers of existing homes.

        The figures showed that 7.3% of homes sold in the Auckland region in the first quarter of this year were sold to overseas buyers, and in some central suburbs overseas buyers accounted for almost 19% of purchases.

        In Queenstown-Lakes, overseas buyers accounted for almost 10% of purchases.

        “That shows the concentration of buying is in the areas of worst affordability and where price rises have been the highest,” Parker said.

        “Kiwis were right to be concerned and that is why we are passing the foreign buyers law.”… read more via hyperlink above …

  2. Strewth!!! This has to take the cake for the stupidest Link ever put up
    “Western Civilization and Conservative Hysteria – ABC”
    The ABC does not employ a single conservative or independent voice – perhaps other than Steve Austin and I wouldn’t care to guess how Steve would vote. The ABC isn’t competent to comment.

    • fitzroyMEMBER

      I do not see why the values of the Enlightenment are “conservative”. The author of the ABC “opinion” is extraordinarily naive to think that Islamic and Chinese donors to academic institutions are being charitable and do not expect a quid pro quo. There is such a thing as soft power. To expect the reverse shows anxiety flowing from the academics who are concerned at the cessation of their funding, still claiming academic independence to the very last as they bank Chinese, Qatari and Iranian funds. To make spurious allegations of hysteria against those who point out this hypocracy is laughable. The man that pays the piper calls the tune. It’s funny how drug company research is viewed with conflicts of interest in STEM subjects but wholly disregarded when it gets to Chinese and Islamic donations to “social sciences”. Shameless double standards.

      • drsmithyMEMBER

        The real hypocrisy is that the people *actually* doing the damage are pretty much entirely right-wing “conservatives” and neoliberals, and have been for decades.

        * Trying (and for many years succeeding) to deny people equality before the law based on their sexual proclivities (and prior to that, persecuting those same people with the law).
        * Facilitating and protecting systemic child abuse
        * Disassembling public services and selling off public assets (to the detriment of the many and the enrichment of a few)
        * Attacking and belittling scientists and intellecuals (except in the pursuit of MOAR PROFITS)
        * Undermining workers rights (MOAR PROFITS)
        * Running high levels of immigration to flood local labour markets and suppress wages (MOAR PROFITS)
        * Deliberately maintaining high levels of unemployment to suppress wages (MOAR PROFITS)
        * Entrenching contract, part-time and other forms of unreliable work (MOAR PROFITS)
        * Directing public spending into private entities and gifting them monopolies (MOAR PROFITS)
        * Increasing economic inequality (MOAR PROFITS)
        * Entering into wars of aggression (to protect MOAR PROFITS)
        * Undermining democratic processes throughout the world (to protect MOAR PROFITS)
        * Invading citizens privacy through extensive surveillance in both the physical and digital worlds.
        * Attacking and undermining fundamental principles of law like the presumption of innocence and timely trials
        * Preventing effective action on climate change (a genuine existential threat)

        That’s just off the top of my head. FMD. The lefties and the scary coloured people don’t even qualify as a rounding error when it comes to threats to western civilisation and Enlightenment values. The (morally and intellectually bankrupt) culture warriors feign paranoia and hysteria because sometimes academics talk about Muslims in a non-negative way, or occasionally highlight some of the shortcomings of western society, or opine about how things could be better for the majority if maybe the minority were a little less greedy. Meanwhile here’s the normal folks living inside it struggling to get dependable work, support their families and have some hope for the future, while an environmental catastrophe that may well render the planet uninhabitable for contemporary humanity looms on the horizon.

      • drsmithyMEMBER

        Lefties are always gentle and were never a threat to the values of the Enlightenment.

        If you say so.

    • FiftiesFibroShack

      It seemed fairly accurate for the most part. A little naive about what donors expect, but generally correct about what’s motivating the conservative press and the “hysteria” around a few of the media’s favourite ‘issues’. I’m sure there will be culture warriors banging on about cultural marxism until they die.

      • drsmithyMEMBER

        Indeed. But you’ll never find agreement from people who think the biggest threats to society are feminists and manners, and the only useful things smart people do are generating larger profits and building better war toys.

  3. This gets more ridiculous every day!!!
    They quote one ‘farmer’ and I’d love to see what her qualifications as a farmer are!!! It’s a bit like the old ABC thing of ‘people say’ as sufficient evidence of something!!!
    Can we have some damned standard here for these Links? They really have to be credible.