Daily review 11/11/2022

Written By: notices and features - Date published: - 22 comments
Categories: Daily review

Daily review is also your post.

This provides Standardistas the opportunity to review events of the day.

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22 comments on “Daily review 11/11/2022”

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    1. 1.1

      First comment:

      why should SOMEBODY ELSE('S) payrate be a "slap in the face" for you. dont try and keep others down. get your own wage rates improved. join a union.

      – woodart

      Hear, hear. Or, the complainant could just go find another job.

    2. 2.2

      There is a risk off on Housing corp,as investors are not interested in the bonds or risks of re rating ( there are two notes in the risk off in market circles)

      Debt is 9.8 b$ ,this will take it to around 12.6b,and growing and two large low interest bonds coming for renewal in next 2 years,and a 300m inflation bond paying over 7%.

      There is no value in the secondary market either for Housing corp bonds.

      https://www.nzx.com/markets/NZDX

        1. 2.2.1.1

          Can any one survive a national government ? usual playbook Labour rakes up unsustainable debt, funded on credit card,national comes in sells family silver,reduces capital debt flows,increases profit flows offshore brings current account up again,Rinse repeat.

          HC really needs to look hard at its model,

          1. 2.2.1.1.1

            Usually Labour gets 3 terms to build those assets up. We need more time.

            Agree re model.

            Is it not weird we never generated another Infatil?

            I just have a suspicion that NZSuper and ACC have sucked too much of the available oxygen.

            1. 2.2.1.1.1.1

              NZSF and ACC between them have lost over 8 billion of asset value in the last 7 months,fundamental shift when that move out of value to growth twaddle stocks,this in turn reduces the leverage of the Government and sustains higher interest rates for a longer period (without inflation issues)

              Infratil was more an investment for its backers,and did not reinvest enough back into the business by reducing debt,

              HC needs to have lower expectations.

        1. 2.3.1.1

          So what is your idea then? Rents are through the roof, and landlords are getting picky about who they are going to house.

          Even John Key once said that one of the best ways out of poverty is an income related rent.

    4. 2.4

      Robertson did make them "go to the bank" as you put it a few years ago. That was when he was trying to disguise how much he was borrowing and by having KO do their borrowing directly he could keep it off the books for Crown Borrowing. This had the effect that we had to pay more interest but Robbo didn't care about that. He just wanted to disguise the full extent of his borrowing.

      Now they seem have borrowed so much that they won't be able to pay it back in any reasonable period and their credit rating is probably such that no-one will loan to them. Hence he is making a virtue out of necessity and is now boasting how, by doing what he should have done years ago he is going to save us money.

      And this is the bozo who pretends to be a prudent Finance Minister? Jeez.

      1. 2.4.1

        Yeah and English loaded up the SOE'S with debt to pay a special dividend,bankrupted solid energy,and left the Generators with a higher debt loading when they were partially sold off.

        What do you think that flake Willis will do,she does not have a clue on econ 101 in a high inflation regime.

      2. 2.4.2

        Yeah but get real Alwyn – NZ finance ministers are a laughing stock. Cullen is the only competent one we've had in my lifetime, and Keynes he was not. That's why the World Bank doesn't snap them up – after politics they're lucky if they can get a job at Woolies.

    5. 2.5

      Its a classic Dancing Cossacks play.

      Load the department up with debt, bankrupt it and reform it as a proper communist institution, roll up the capitalist facade, bring up the hammer and sickle across the capital and usher the ships back into the Polish ship yard.

  3. 3

    National's candidate in Hamilton West has been struggling.

    He's "doing a Luxon", Defined as, "taking a non-issue and turning it into an issue, by not answering the question".

    It doesn't matter if he's voted for other parties in the past. Many candidates have. Voters wouldn't care if he said so.

    It does matter that he thinks he can't admit it. He ends up sounding Luxony, and that ain't good.

    https://www.todayfm.co.nz/home/politics/2022/11/has-nationals-new-candidate-actually-voted-for-labour.html

    "Have you always voted for the National Party in the past?" O'Brien asked Potaka.

    "I have voted for the National Party in the past," he responded.

    "And you have always voted for them? Never another party?"

    "I've voted for the National Party in the past," he repeated.

    After much back and forth, Potaka said, "I've voted for National, that's who I'm saying I've voted for in the past." [End].

  7. 7

    This is good news

    Kelvin Davis said, "If not now then when".

    https://waateanews.com/2022/11/11/major-investment-planned-to-develop-south-auckland-waikato-offshore-wind-industry/?

    The completion date of 2030 is too late. We should have started years ago. Needs must, the country go on an emergency war footing to complete this project under urgency as if we were at war, and we were losing.

    Because we are.

    As the UN Secretary General Antonio Guterres pointed out on Monday.

    “We are in the fight of our lives, and we are losing,” Antonio Guterres

    https://www.cnbc.com/2022/11/07/were-on-a-highway-to-climate-hell-un-chief-guterres- MON, NOV 7 20228:03 AM ESTsays.html

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