Black Monday

[winner69]

At least water is still held at the public level in New Zealand but the local councils in the Wellington region are struggling to keep up with the costs of renewal with Porirua City looking to become part of Wellington City because they can't afford the water mains repairs and replacement. Where there can't be competition, such as what water you receive or the lines company you use it does make sense to be in public hands. But they should still have to operate at private sector levels of service (and pay) and not slide into public sector sloth (and ridiculous salaries).

The Pooh Taxis in Wellington are to stop running in a few weeks I hear

Good slogan - JB’s #1 for #2’s

[bull....]

barring the nasdaq most markets still not above the 61.8% retracement level

[JBmurc]

We don’t deplete stocks we manage wild fish stocks through the Quote management system (which needs fine tuning imho).. aquaculture farms fish stocks ... we need better connections between fisherman and Primary industries we need to stop the propaganda hate that NZ fisherman rape the sea ... we have huge untapped sea resources we farm out most of our deep sea to foreign operators why we don’t invest in are own fleets with kiwi crew) as for environment footprint I think it would stack up very well vs other protein food sources ...last trip we used 1035lts of diesel To land 6350kilos of prime mostly export net seafood that will have very little downstream processing) also add in the human health factors to seafood over mostly meat based diets and billions we have to spend on treatments ... just look at the nations with high seafood diets vs the west’s cancer obesity cardiovascular etc ... the big picture is we are a island nation with many sqm miles of farmable coastlines and thousands of Nautical miles of ocean if we could merge technology investment with kiwi fisherman know how I’m sure we could create many more billions in earnings

[Entrep]

2020-05-12 14.44.31.jpg

Two ways to interpret this

[peat]

barring the nasdaq most markets still not above the 61.8% retracement level

so down, back to say 50 or even 32
then up, to 78.6 ?


that's what I've predicted in the Dead Cat Bounce thread.

2020-05-12 14.44.31.jpg

Two ways to interpret this

up or down ? hahah

no, as I said down then up then DOWN
(everyone can be right and/or wrong)

[Tomtom]

I think the market has the ability to persist on an irrational basis for a very long time, we might be right on liquidity driving price but are we patient enough to wait for the fall as the market runs away from us in the intrim? I'm carrying more cash than usual.

[moka]

I realise papers have to sensationalise in order to sell, and the opinion pieces have to go a step further but much of this is tosh.

Corporates want protection? Only because the government has shut down their ability to do business.
Poverty? We have relative poverty in New Zealand which, when based on a percentage of average of earnings, will mathematically always occur.
A broker health system? Our family has found the health service provides admirably whenever it has been needed.
Housing crisis? Yes, houses have become very expensive based on salaries but a return to the mean of interest rates would go a long way to solving this. [Or competent government ministers.]
Dysfunctional transport? Perhaps in Auckland but blame the Council. Here in Wellington the trains run fine and if the Regional Council hadn't been such dicks the buses still would too.

Like in New Zealand for the vast majority is so much better than this article suggests.

Neoliberalism is characterized by free market trade, deregulation of financial markets, privatization, individualisation, and the shift away from state welfare provision. So how come corporates are disregarding their neoliberalism ideology and wanting a handout from the state.

When you say “only because the government has shut down their ability to do business” you ignore coronavirus, which is the real cause. While you can disagree with when and how much the government restricted business, if they had done nothing the economy would still have been impacted by other countries actions, shutting borders, staying home etc. Many New Zealanders would have stayed home and limited spending even if there hadn’t been a lockdown by the government. Look at how people stopped going to the doctor during the lockdown.

I expect a government to govern and not ignore its responsibilities in a crisis. Unfortunately Neoliberalism promotes anti-government sentiment deliberately to undermine democracy and reduce the power of the people to influence government policies, so the elites can have policies that promote their interests over the people’s.

The fact that your family has found the health service provides admirably whenever it has been needed doesn’t prove it is not broken. There are many people have not and do not get the service they expect e.g. cancer care.

https://www.newstalkzb.co.nz/news/na...r-vining-dies/
Blair Vining was an extraordinary man: turning his own tragedy into a battle to ensure better cancer care for all New Zealanders.

[moka]

The stock market looks increasingly divorced from economic reality. For decades, the market has been growing increasingly detached from the mainstream of American life, mirroring broad changes in the economy. Wall Street has very little to do with Main Street.

The giant companies that make up the S&P 500 operate under very different circumstances than the nation's small businesses, workers and cities and states. They are highly profitable, and hold significant sums of cash.

The five largest listed companies — Microsoft, Apple, Amazon, Alphabet and Facebook — have continued to climb this year, as investors bet they will emerge in an even more dominant position after the crisis. Through the end of April, these companies were up roughly 10 per cent this year, while the 495 other companies in the S&P were down 13 per cent. These firms — Microsoft, Amazon and Apple are each worth more than US$1 trillion — now account for one-fifth of the market value of the index, the highest level in 30 years.

The wealthiest 10 per cent of American households own about 84 per cent of the value of all household stock ownership. The top 1 per cent controlled 40 per cent of household stock holdings.

Less employees - According to a Brookings Institution report, for example, the two most highly valued companies in the country in 1962 — AT&T and General Motors — employed nearly 1.2 million people combined. Last year, the two largest companies in the S&P 500 — Microsoft and Apple — employed 280,000.
https://www.nzherald.co.nz/business/...ectid=12331199

[bull....]

I think the market has the ability to persist on an irrational basis for a very long time, we might be right on liquidity driving price but are we patient enough to wait for the fall as the market runs away from us in the intrim? I'm carrying more cash than usual.

carrying cash what ever level very sensible to take advantage of unexpected opportunities.

[bull....]

heres big event , as mentioned last week fed futures went negative for the first time , so market testing powell. if powell doesnt shoot it down its full on negative coming very quickly. always the chance it come anyway

Powell is expected to squash idea of negative rates, even as Trump says US would benefit


Powell is expected to take the opportunity to talk down market speculation about negative interest rates, when he appears in a 9 a.m. ET webcast with the Peterson Institute for International Economic

https://www.cnbc.com/2020/05/12/powe...ould-help.html


and in NZ TODAY

RBNZ expected to double QE programme on Wednesday, but will it provide more forward guidance and signal it might - just maybe - cut the OCR before next year?

https://www.interest.co.nz/bonds/104...d-guidance-and


OF course when everyone ends up in negative rates , savers will all be made to pay to keep there money in the bank.
whats happening with bank stock prices everywhere in the world displays this