US data holds at good levels with GDP set to grow +2% in Q1-2024; UST yields hold; China at fork in road; Taiwan data good; cocoa prices zoom again; UST 10yr 4.26%; gold and oil firm; NZ$1 = 60 USc USc; TWI-5 = 69.3

Syria fought ISIS to a standstill.  And we still have Israel sabotaging the government with regular overnight bombing.  And the USA occupy parts of Syria preventing the government from finishing ISIS off.  Madness.

to complicated for PDK and threecents - sometimes the most obvious answer is the correct one but a conspiracy theory sounds better -and I guess now that the CIA have wound up their fake moon landing operation and stopped dealing with the aliens at Roswell they will need a new project to get their teeth into

I was being simplistic, however the west including the US was involved with the development of ISIS.

https://www.theguardian.com/commentisfree/2015/jun/03/us-isis-syria-iraq

A revealing light on how we got here has now been shone by a recently declassified secret US intelligence report, written in August 2012, which uncannily predicts – and effectively welcomes – the prospect of a “Salafist principality” in eastern Syria and an al-Qaida-controlled Islamic state in Syria and Iraq. In stark contrast to western claims at the time, the Defense Intelligence Agency document identifies al-Qaida in Iraq (which became Isis) and fellow Salafists as the “major forces driving the insurgency in Syria” – and states that “western countries, the Gulf states and Turkey” were supporting the opposition’s efforts to take control of eastern Syria.

Raising the “possibility of establishing a declared or undeclared Salafist principality”, the Pentagon report goes on, “this is exactly what the supporting powers to the opposition want, in order to isolate the Syrian regime, which is considered the strategic depth of the Shia expansion (Iraq and Iran)”.

Which is pretty well exactly what happened two years later. The report isn’t a policy document. It’s heavily redacted and there are ambiguities in the language. But the implications are clear enough. A year into the Syrian rebellion, the US and its allies weren’t only supporting and arming an opposition they knew to be dominated by extreme sectarian groups; they were prepared to countenance the creation of some sort of “Islamic state” – despite the “grave danger” to Iraq’s unity – as a Sunni buffer to weaken Syria.

I guess you get your Bitcoin info from him as well?

Peter Zeihan confidently embarrassed himself on Joe Rogan's podcast recently by going on a short rip regarding Bitcoin's negative value and how a reliable, fixed money causes economic disaster but the inflated, debt drowned political currency is more valuable. And how counterfeiters have rightfully earned the wealth they steal, but savers gaining some purchasing power as the economy grows is "unviable."

and ISIS have a long history of killing civilians  in different parts of the world to further their aims - what ever they may be - oh I forgot 9/11 was actually the CIA right

"The US has a long history of funding, arming and facilitating proxy groups" So do Russia. Where you find one you will find the other. https://en.wikipedia.org/wiki/Wagner_Group_activities_in_Africa#:~:text….

I think domestic AirNZ flights are more expensive, because they have far less competition from Jetstar, compared to pre Covid. 

Looking at the prices, your family of four is closer to $1600 return (booking more than a week in advance). About the same price as bus/ferry.

Can not understand people that expect to fly for bus fare prices.

Those bail outs though appear  well forgotten by some staff who remain elitist and arrogant. Recall in transit meeting up with an old workmate who had since become a steward, international long hauls etc. He said, and in all seriousness, that it would be the best job in the world if it wasn’t for the passengers. Reportedly when Norris became CEO he requested all the top echelon of staff to provide him a paper, basically where AirNZ had been, was now, and where it was going. Once digested he advised them that there was some excellent work and suggestions, but every submission was about flying planes, no mention of the question  of passengers. It’s a culture issue, NZrs are far from naturals in the service industry.

We’ll…if we’re going to hell in a hand cart I might as well enjoy the ride. 

Listening to Luxon, he seems convinced that there is a competitive market for ECE and that people will just change childcare providers based on them increasing their fees. What planet does he live on? There is a 6-12 month waitlist for most ECEs in big cities, and if there isn't, there is probably a good reason why. 

They'll be lambasted for owning a smart phone or a laptop if they're poor.  Instead they must trot down to the local library to use a computer.  It's only $1 to scan/email at our local library, hopefully the charge is not per page.  

To serve what purpose?  Could the ECE centers not post all invoices directly to the IRD?  They already post PAYE information.  

Luxon and Willis both in the post cabinet standup yesterday spoke how high the cost of childcare was in New Zealand and their approach to dealing with that.  And PM Luxon did the same again today on Morning Report.

but yes.  Why not Kindergartens and Schools.  Also Playcentre.

Why the insult on a simple matter of information that adds to the discussion. ?

Large Chinese banks.

I used to work at a large US bank in London which did the same.

Banks don't take deposits and they never lend money. They are in the business of purchasing securities. When one gets a bank loan, the loan contract is a promissory note. The bank purchases that contract from the borrower. Now the bank owes the borrower money and it creates a record of the money it owes, which we call deposits - source.

Replace promissory notes with government securities and you get the picture. Furthermore, the capital risk weights are zero for government security assets.