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Thread: Black Monday

  1. #9481
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    Aussie Jobkeeper still being paid in some cases I believe.. 12 months vs 12 weeks for NZ's subsidy.

  2. #9482
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    Job Vacancies surge past the pre-covid levels.

    https://www.nzherald.co.nz/business/...BWONRHABRGKFY/

  3. #9483
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    bitcoin approaching key support around 30k , might be a big woosh down if it doesnt hold
    bull
    One step ahead of the herd

  4. #9484
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    Is that a WOOOOOSH@#### or just a WOOoosh type of woosh?

    It will be interesting

  5. #9485
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    Quote Originally Posted by kiora View Post
    Is that a WOOOOOSH@#### or just a WOOoosh type of woosh?

    It will be interesting
    guess it depends on the panic lol
    bull
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  6. #9486
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    "Energy Cuckoo's lost & dreaming in the Woods" it seems:

    https://www.stuff.co.nz/business/125...lloons-to-349m

    'Never again': cost to taxpayers of Tui oilfield clean-up balloons to $349m


    The cost to taxpayers of decommissioning the Tui oil field off Taranaki has more than doubled to $394 million, Energy Minister Megan Woods has confirmed.

    But Woods told a select committee on Thursday that she was determined the situation would not be repeated.




    But the Government was forced to take over the oil field last year and pick up the tab for the clean-up after production at the field ceased and Tamarind Taranaki collapsed into receivership.



    Well who else left standing with a few pennies was there to pay Clean Up bill ?

    What taxes, duties, royalties, licence & permit costs were extracted by Govt over the life of the field ?

    Obviously not small syphon-offs either that were extracted by Govt


    The Government set aside $154m last year to pay for the work.

    But Woods said it had to set aside an additional $195m in this year’s Budget because the original cost estimate was based on a 2015 study by Tamarind that had proved to be inaccurate.



    Well that's nice .. a major bit of buck passing and very convenient too - supposedly no-one from Woods' Energy-Less Department bothered to think to open their eyes and do a bit of forward lateral thinking on the real projected clean up costs forward ..


    This is a situation we never want to be in again,” Woods told MPs.


    Yeah right..

    “This is a situation which was created because of a gap in the legislation which we closed when we became the Government,” she said.


    Aha

    The gap meant that the same level of scrutiny was not applied when ownership of an oilfield was transferred as was applied when an operator originally requested a permit to drill.

    “We changed the law in 2018 to make sure we never got into that situation again,” Woods said.



    That's nice, but really ? All the boys & girls up the back were probably nodding, but..


    So what will a little more scrutiny do to change anything, if the encumbent operators / owners are headed down
    the gurgler with no dough on a field in it's closing years and no-one fronts to tidy up ?

    How many more of these fields are there, where time is going to be up, before Woods & her mates exit the stage ?

    Will they have to empty their purse on the Govt front desk on arriving first ?

    What happens if none do ?

    What happens if none find it economic or have interest looking at end of life fields ?

    Where does the buck stop then ?

    If Woods' Ministry of Energy-Less were able to do such a good job on this tidy up on the estimates of forward costings, will they do any better on others ?


    Sorry .. forgot .. there will be no new fields , no new wells because no-one wants to deal with the current back the
    front administration and many explorers are relinquishing their permits etc here hurriedly to depart fast, if they
    haven't already aiming to pop up in more exploration friendly territories elsewhere globally


    Must be why NZ Energy Explorers are digging in over yonder & further away too ..


    Not too far a journey either -- the nearest friendlier territory just happens to be across the ditch - darlings


    The levels of Govt squawking on this one are as good as their various Phantom House Building schemes
    to date which is yet another portfolio on just which Ministers desk again now ? - right
    Last edited by nztx; 11-06-2021 at 02:39 AM.
    ... the fine art of sniffing out debits & credits hidden under the carpet can pay dividends ...

  7. #9487
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    Consumer prices jump 5% in May, fastest pace since the summer of 2008

    https://www.cnbc.com/2021/06/10/cpi-may-2021.html

    all transitory inflation , rates barely moved , markets steady to up in the US ..... business as usual.

    but at the local in nz im sure my food bill got quite a jump last week and of course my rates bill is going to jump this year and my petrol and utilities are well up this yr but dont worry its transitory my 1% cpi adjusted pay rise should cover it.
    bull
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  8. #9488
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    ECB Piles on Stimulus Even With Most Upbeat Risk View Since 2018

    European Central Bank President Christine Lagarde renewed a pledge to deliver faster bond buying even as officials acknowledged for the first time since 2018 that the euro-zone economy is no longer overshadowed by risks to its growth outlook.

    https://www.bloomberg.com/news/artic...d=premium-asia

    hence why europe one of the best places for your cash this year
    bull
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  9. #9489
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    ....those Old Economy European companies really helping out like BP, Total, and BHP etc. Not that anyone uses anything that they produce anymore, like oil. We're all driving electric cars now you see and products travel around the world via Hyperloop.

  10. #9490
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    Quote Originally Posted by bull.... View Post
    Consumer prices jump 5% in May, fastest pace since the summer of 2008


    https://www.cnbc.com/2021/06/10/cpi-may-2021.html

    all transitory inflation , rates barely moved , markets steady to up in the US ..... business as usual.

    but at the local in nz im sure my food bill got quite a jump last week and of course my rates bill is going to jump this year and my petrol and utilities are well up this yr but dont worry its transitory my 1% cpi adjusted pay rise should cover it.
    Inequality in NZ too is booming! Inflation bites at the wage earners. The government tries to impose wage moderation while house prices have been skyrocketing. So moderation for wage earners while asset owners reep the rewards from government policy?

    Those with equity in a house and other assets have been watching their values increase, so a feel good factor there. Those with assets (predominately real estate in NZ) are more likely to vote?
    Last edited by Bjauck; 11-06-2021 at 09:08 AM.

  11. #9491
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    all part of the plan of course...inflation = stealth tax and as a bonus it rips the ladder up behind those who wish to rule over us

  12. #9492
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    Quote Originally Posted by arekaywhy View Post
    all part of the plan of course...inflation = stealth tax and as a bonus it rips the ladder up behind those who wish to rule over us
    But the CPI is only at circa 1%, so there can't be a problem! At least that's the line my Labour supporting colleagues always produce.

  13. #9493
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    I don’t pretend to fully understand the causes of inflation but with the workforce across most developed countries now aging, arable farmland likely declining due to drought and a fossil fuel phase-out, women having mostly returned to the workforce surely future inflation is likely to be higher? Yes, you still have technology weighing on inflation, but now you have factors weighing against that.

    In terms of Age demographics, Arable land and Women in workforce etc. it might seem to a casual observer that inflation would also rise now trends have stabilised or are reversing?

  14. #9494
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    Double post.
    Last edited by Tomtom; 11-06-2021 at 10:43 AM.

  15. #9495
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    fed meeting this week , im not expecting much change this meeting.

    this site is very slow to load or post on frequently now so ill be only posting randomly on here from now on.
    bull
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  16. #9496
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    That's a shame bull I enjoy your posts but this site is painfull at times.

  17. #9497
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    March quarter GDP +1.6% vs. RBNZ estimate -0.6%

    Adrian must really be scratching his head. So concerning that such a fool is in charge of something that is arguably more powerful than what the PM can do.

    https://www.interest.co.nz/news/1108...-gdp-rise-will

  18. #9498
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    Quote Originally Posted by JohnnyTheHorse View Post
    March quarter GDP +1.6% vs. RBNZ estimate -0.6%

    Adrian must really be scratching his head. So concerning that such a fool is in charge of something that is arguably more powerful than what the PM can do.

    https://www.interest.co.nz/news/1108...-gdp-rise-will
    Only a fool would think that it is possible to forecast GDP growth (or any other economic parameter) with such a precision - particularly in unprecedented times like this.

    Who did you say thought that the forecast was not good enough?
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  19. #9499
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    I very much doubt even Sammy The Seal would have got it even near right.

  20. #9500
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    Quote Originally Posted by BlackPeter View Post
    Only a fool would think that it is possible to forecast GDP growth (or any other economic parameter) with such a precision - particularly in unprecedented times like this.

    Who did you say thought that the forecast was not good enough?
    When your job is literally to have your finger on the pulse of the economy this is unacceptable. Decisions are made from their forecasts. When a realistic range of possibilities is say +/- 150bps, a 220bps miss is a shocker.

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