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Ratings agency downgrades NZ economy outlook

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Calliope
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« on: January 27, 2016, 06:53:49 am »

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11580203

A leading international credit rating agency has downgraded its outlook for New Zealand's economy, saying it doesn't expect growth to be as strong as previously thought.

Fitch Ratings has affirmed its AA credit rating for New Zealand, but says the outlook for our agricultural exports means future growth won't be quite as strong.
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Kiwithrottlejockey
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« Reply #1 on: January 27, 2016, 08:03:39 am »


Yep....Billy-boy English is a useless, incompetent minister of finance alright!
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If you aren't living life on the edge, you're taking up too much space! 
reality
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« Reply #2 on: January 27, 2016, 08:24:54 am »

haha..but the part calliope did not include (which did not come as a surprise).. in the quote was

"Uncertainty over the external environment, migration rates and the impact from El Nino weather conditions were identified as risks."

OK...so....lets look at them..

"Uncertainty over the external environment"...no Bill English does not control the rest of the world Shocked
"migration rates "...no Bill English doesa not control  migration rates Shocked
"El Nino"....no Bill English does not control the weather Shocked

...so ...he is not god...but he is the next best thing

...yes..kj...not one to let the facts get in the way of a good leftie fundy conspiracy theory Tongue
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Kiwithrottlejockey
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« Reply #3 on: January 27, 2016, 08:38:28 am »


Billy-boy English is a liar, and a thief (remember when he ripped off the NZ taxpayers with his house rort in Wellington?), and incompetent as a minister of finance.

Add up the cumulative government surplus for the length of time since Billy-boy English has been minister of finance (it's actually a HUGE cumulative DEFICIT of many billions of dollars) and compare it with the cumulative government surplus for the same period of time from when Michael Cullen became minister of finance (actually a HUGE cumulative SURPLUS of many billions of dollars) and you have the big picture about who was a successful minister of finance and who is a FAILED minister of finance.
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reality
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« Reply #4 on: January 27, 2016, 10:11:10 am »

yes...he should be sacked for not controlling El Nino Wink
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Alicat
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« Reply #5 on: January 27, 2016, 11:45:46 am »



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reality
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« Reply #6 on: January 27, 2016, 12:00:58 pm »

I think if you dont stop passing wind, our global warming problem is going to get alot worse quickly Shocked
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Crusader
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« Reply #7 on: January 27, 2016, 03:31:11 pm »

I think if you dont stop passing wind, our global warming problem is going to get alot worse quickly Shocked

And if you keep your mouth shut, the entire worlds greenhouse gas emissions would be halved.
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reality
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« Reply #8 on: January 27, 2016, 03:37:05 pm »

You will be very happy to learn that I did not open my mouth once while dictating this post Tongue
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Kiwithrottlejockey
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« Reply #9 on: January 27, 2016, 03:43:22 pm »


No, but you opened your brain and a huge fart was ejected.
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reality
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« Reply #10 on: January 27, 2016, 03:49:02 pm »

...it pays to have a competent Minister of Finance Wink


Why the NZ sharemarket is going strong while others flail

The Australian sharemarket is down about 18 per cent from it last peak of nearly 6000-point in April last year.

While world stocks have stumbled their way through January, the New Zealand sharemarket has managed to sidestep much of the global turmoil.

Compared to Australia's sharemarket, which has lost about 18 per cent since April last year, the NZX 50 has remained steady and even lifted recently.

Though not entirely immune from overseas volatility, the Kiwi index of the top 50 companies had several factors in its favour.

Hamilton Hindin Greene director James Smalley said a big difference between the ASX and NZX indices was the greater number of resource companies listed in Australia.

These included BHP Billiton and Rio Tinto and other major oil producers Santos and Woodside Petroleum.

The downturn in oil prices had a big impact on energy companies listed on the ASX and in turn on the overall index.

BHP Billiton has lost about $41b of its market capital in the past six months - almost half of the value of entire New Zealand sharemarket, excluding the Australian bank listings.

The NZX and ASX were also compiled differently.

The ASX is a pure capital index while the NZX was a gross index, Smalley said.

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A gross index measured share prices and dividends paid, while a capital index measured only share prices.

Major markets around the world, including those in the United States and Britain were capital indices.

Craigs Investment Partners head of private wealth research Mark Lister said the New Zealand market still outperformed the ASX, even when dividends were added to the Australian market.

Since the end of 2014, the NZX has risen about 10 per cent while the ASX, with dividends included, was down 3 per cent.

Attractive dividend yields and a healthier economy also contributed to the New Zealand sharemarket's better performance, Lister said.

The European market for example had been down almost 20 per cent from its peak last year while the New Zealand market was down 2 per cent.

"It's great we've held up so much better, but on the other hand, we start to look a bit pricier than others around the world. It's harder to find value," Lister said.

Also, the more expensive a sharemarket became the greater the risk of a fall during and adverse event.

For New Zealand that could include big falls in dairy prices, adverse weather events or anything that could put New Zealand's economy on the backfoot.

Uncontrollable overseas events, such as a major slowdown in the Chinese economy, would have a flow-on effect because of New Zealand's heavy trade links with China.

It was harder now to find bargains and opportunities in the New Zealand market than two or three years ago, but Lister said there were still plenty of good quality companies to invest in.

Exporters like Fisher & Paykel Healthcare and Comvita were doing well and benefiting from the lower New Zealand dollar.

While electricity companies like Meridian and Mighty River Power were "safe, predictable companies" in some ways, they were also good investments for those wanting a steady income and good dividend yield, Lister said.

Air New Zealand was in good shape and benefiting from low oil prices and strong migration, while Auckland International Airport and Ports of Tauranga were "real blue chip companies that are irreplaceable".

On the flipside, retail was having a tough time, despite low interest rates, as people are spending less and online shopping affected traditional bricks and mortar retailers.

"Briscoe always seems to do the right thing. All the rest of them have had a tough few years and I don't think that's likely to change in a hurry," Lister said.

 - Stuff
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Alicat
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« Reply #11 on: January 27, 2016, 05:12:12 pm »


It's let another one go ...


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reality
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« Reply #12 on: January 27, 2016, 05:20:36 pm »

...about bloody time...yeah quite a few actually...you have some posting to do..now stop bloody slacking and keep up Wink
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Kiwithrottlejockey
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« Reply #13 on: January 27, 2016, 06:18:32 pm »



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If you aren't living life on the edge, you're taking up too much space! 
reality
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« Reply #14 on: January 27, 2016, 06:30:47 pm »

YUK......fatty processed meat....disgusting....bad for the body and bad for the planet and bad for the animal Roll Eyes
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Calliope
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« Reply #15 on: January 27, 2016, 10:58:22 pm »

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[W]hat the internet and its cult of anonymity do is to provide a blanket sort of immunity for anybody who wants to say anything about anybody else, and it would be difficult in this sense to think of a more morally deformed exploitation of the concept of free speech.
- Richard Bernstein in the New York Times
reality
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« Reply #16 on: January 28, 2016, 03:32:10 am »

....yup....kit is good news..well done Tongue


Business leaders hail unlocking of jam

5:00 AM Thursday Jan 28, 2016

Key’s City Rail Link commitment wins business praise but one leader says more Government action is needed to free up housing supply, writes Anne Gibson.

Business leaders have welcomed Prime Minister John Key's State of the Nation address - but one has indicated disappointment on the housing front.

Kim Campbell, the chief executive of the Employers and Manufacturers Association, praised the infrastructure moves but wanted more from Key on housing, particularly public-private partnerships to crack into supply.

But he welcomed progress on the Auckland City Rail Link.

"What's important is the Government has set a timetable and a business plan.


That all requires the Government and the [Auckland] Council to deal with all the complexities and put it into plan and Key has set a timetable. That's a very good piece of news.

"Complexities could have clouded it all. By putting a timetable on the process really enables the things to get moving.

"We believe intensification in the city is a good thing - getting people out of cars, the development around the railway stations ... all of those things are good for business. It was expected," Campbell said.

"The East-West announcement was good," he said of the $1.25 billion to $1.85 billion link between State Highway 1 and State Highway 20.

"We knew it would be considered a road of national significance, but by setting a tighter timeframe we get more confidence that is going to happen.

"For business in Auckland, this is absolutely essential. It should be appreciated that it is funded by the taxpayer, not the ratepayer.

"The third thing is there was a lot of talk about housing but honesty there's nothing new and Auckland might be interested in seeing something a little bit more from Government, announcing some genuine public-private partnerships, something that had more substance," Campbell said.

However, the fact that housing was in the Prime Minister's speech was welcomed, he said.

Road Transport Forum chief executive Ken Shirley said the Government's intention to fast-track the consent process for Auckland's East-West Connection roading project was good news for the Auckland freight industry.

"We have long advocated for the East-West Connection as a critical piece of infrastructure to free up freight movement around Auckland," said Shirley.

"It is a top priority for the industry and it is good to see the Government recognises that."

The Onehunga-Penrose corridor was a critical industrial and manufacturing hub of national significance that had suffered from chronic traffic congestion for many years, impeding the vital movement of freight, he said.

"The Government's intention to get through the consent process as quickly as possible and begin construction in 2018 provides a new level of optimism for freight operators and their customers."

Public policy think tank The New Zealand Initiative praised Key's housing statements.

Dr Oliver Hartwich, executive director, said Key's stance to free up Crown land was promising, and looked to relieve some of the pressures of the ongoing housing crisis.

"We at the Initiative have long argued that Auckland's housing crisis is due to a lack of supply; we simply need to build more. Key's announcement today that there will be a focus on building more houses in Auckland over the next few years is much needed," he said.

But Opposition leader Andrew Little was scathing about Key's commitment to fund the desperately needed City Rail Link.

"It's typical of this Government that they had to be dragged kicking and screaming to get to this point," Little said.

"John Key's failure of ambition has been holding back growth and prosperity in our biggest city for years. His lack of leadership in this area has cost jobs and strangled businesses."

The $4.2b spend
• Completing the Western Ring Route by 2019.

• Opening the $200m Lincoln and Te Atatu interchanges in March.

• Opening the $1.4b Waterview Connection early next year.

• Ongoing construction of the $1.3b Auckland Manukau Eastern Transport Initiative.

• $268m upgrade of Southern Motorway sections by late 2018.

• Starting the Northern Motorway Upgrade in 2018, connecting it with the Western Ring Route.

• Completion of the Northern Busway Extension to Albany.

- NZ Herald
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Alicat
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« Reply #17 on: January 28, 2016, 10:34:30 am »



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dragontamer
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« Reply #18 on: January 28, 2016, 06:58:44 pm »

YUK......fatty processed meat....disgusting....bad for the body and bad for the planet and bad for the animal Roll Eyes

If they didn't want us to eat pigs, they wouldn't have made them out of bacon.
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reality
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« Reply #19 on: January 28, 2016, 08:49:52 pm »

They dont... Wink


"Bacon has a large amount of sodium, and the consumption of a large amount of sodium has traditionally been considered to put a person at risk for heart disease and high blood pressure.[62]

Bacon is considered by many doctors to be unhealthy if eaten in excess.[62] A study conducted by researchers at the University of Zurich found a connection between eating processed meat and the risk of dying from heart disease or cancer.[62] Processed meats contain preservatives known as nitrates that, when absorbed by the human body, convert into nitrosamine, a chemical compound that could cause cancer.[62] A second study by researchers at Columbia University found that the consumption of cured meats increase a person's chances of developing chronic pulmonary disease.[62][63][64]

Researchers from the Harvard School of Public Health found in 2010 that eating processed meats (such as bacon) that are preserved by smoking, curing or salting, or with the addition of chemical preservatives, was associated with an increased risk of both heart disease and diabetes.[65] The same association was not found for unprocessed meat.[65]

A newly released publication about cancer research in the United Kingdom by the WHO says processed meats (like Bacon or Sausages) do cause cancer. [66]"

wiki
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Kiwithrottlejockey
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« Reply #20 on: January 28, 2016, 08:53:40 pm »


Well....if you want to be a “pussy” then don't eat the stuff.

It simply means you aren't a REAL Kiwi.
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reality
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« Reply #21 on: January 28, 2016, 09:00:00 pm »

ok...thanks Tongue
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