Overheard from a very popular Auckland talk radio station this morning during an ad break, "... little or no down payment mortgages!... no down payment for those under $300,000!" Yeah, in America those're called "Subprime Mortgages", it actually precipitated a Subprime Mortgage Crisis :D
So it begins, party time in New Zealand!!!
This (shortened) video was meant to pacify bank customers regarding rising credit cost.
It failed to mention still something. While central banks, who lend to commercial banks largely, have kept interest rates significantly low, why does Westpac NEED improved returns, so urgently? hmm...
Caroline Baum on effects of the US Healthcare reform, with respect to the Obama administration's claims of job creation. (Bloomberg)
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How many small businesses are holding off on hiring additional employees until they know what additional burdens Congress will impose on them in the name of health-care reform? How are expectations of higher health-care costs affecting consumers’ current spending, which in turn affects output and employment? (Only in government la-la land can you provide more health care for less money.)
In the face of a 10.2 percent unemployment rate and growing doubt about government claims of jobs created, the administration is standing by its 640,329. After all, Devaney has “no doubt that there’s a lot of jobs being created.” It’s just a question of how many.
One million? 640,329? It’s close enough to zero for government work.
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Having the above coupled with the coming "Climate-Gate" carbon-tax policies, no actual economic recovery would likely commence until the wrongs are put right. Here too, politics in NZ presently has largely followed American, Euro-centric influence.
Recent revelations on Climate-Gate,
Somebody must address these tough issues, and voice hard questions! Truth conquers all.
