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Top 10 at 10: Landlords' impotent; 'Euro collapse inevitable'; China tightens again; Dilbert
Here are my Top 10 links from around the Internet at 10am. I welcome your additions and comments below or please send suggestions for Tuesday's Top 10 at 10 to bernard.hickey@interest.co.nz My apologies for lateness. I am struggling to get this in on time every day. I'm thinking of changing to either a shorter version at 10 am (maybe Top 5 at 10) or the same length but later (Lunchtime Links). Or should we drop other things at keep it at Top 10 at 10 (published at 10am)? What's your view? 
1. Rental pain/gain - Greg Ninness at the Sunday Star Times has pulled together an interesting study of rents throughout New Zealand over the last year or two to see whether landlords would be able to push through rent increases if tax changes increases. Apparently not. I agree. Rents are set by tenant incomes, not by landlords' wishlists. Here's the useful list Greg compiled.
Whatever form the changes eventually take, they are likely to focus attention on something that is an inconvenient truth for many investors who embraced residential property so wholeheartedly during the boom "“ that in the absence of significant capital gains, many of the properties they purchased were simply bad investments. Over the last few years, capital gains have been the holy grail for many property investors and, in their pursuit of it, many paid too much for properties relative to the income they provided, compounding that by borrowing too much of the money needed to fund the deals.
2. Who is this guy - James Weir at the Dominion Post reports that an unnamed property developer with a lavish lifestyle is facing a multi-million tax bill. Do your readers know who this developer and 'KPL' is?
A Taxation Review Authority decision on the case did not name the developer and entrepreneur, but said he was involved in a large number of property developments during the 1990s and projects worth "hundreds of millions of dollars". The authority said the developer was involved with the "KPL" company from 1996 to 2002. Inland Revenue's lawyer said the developer lived an "extravagant lifestyle" on the loans but authority Judge P F Barber said that was not relevant to the tax issue.
3. Euro collapse inevitable - The Daily Mail reports the chief economist of Societe Generale (yes the big French bank) saying the collapse of the Euro is inevitable. Sacre bleu! HT Andrew Wilson via email.
In a note to investors, SocGen strategist Albert Edwards said: 'My own view is that there is little "help" that can be offered by the other eurozone nations other than temporary, confidence-giving "sticking plasters" before the ultimate denouement: the break-up of the eurozone.' He added: 'Any "help" given to Greece merely delays the inevitable break-up of the eurozone.' The alarming claim came a day after European Union leaders promised 'determined and co-ordinated' action to shore up Greece's tattered public finances, but disappointed traders by failing to provide specifics. Further details are expected early (this) week, but markets were in high anxiety on Friday amid fears political divisions among rich eurozone members could derail any rescue.
4. Chinese oversupply - This Bloomberg story has some useful detail on the scale of the property over-building in Beijing. There is a bubble building. How it deflates will determine the future of the global economy.
Jack Rodman, who has made a career of selling soured property loans from Los Angeles to Tokyo, sees a crash looming in China. He keeps a slide show on his computer of empty office buildings in Beijing, his home since 2002. The tally: 55, with another dozen candidates. "I took these pictures to try to impress upon these people the massive amount of oversupply," said Rodman, 63, president of Global Distressed Solutions LLC, which advises private equity and hedge funds on Chinese property and banking. Rodman figures about half of the city's commercial space is vacant, more than was leased in Germany's five biggest office markets in 2009. Beijing's office vacancy rate of 22.4 percent in the third quarter of last year was the ninth-highest of 103 markets tracked by CB Richard Ellis Group Inc., a real estate broker. Those figures don't include many buildings about to open, such as the city's tallest, the 6.6-billion yuan ($966 million) 74- story China World Tower 3. Empty buildings are sprouting across China as companies with access to some of the $1.4 trillion in new loans last year build skyscrapers. Former Morgan Stanley chief Asia economist Andy Xie and hedge fund manager James Chanos say the country's property market is in a bubble. "There's a monumental property bubble and fixed-asset investment bubble that China has underway right now," Chanos said in a Jan. 25 Bloomberg Television interview. "And deflating that gently will be difficult at best."
Related Topics
5. Woops - This story from the St Petersberg Times is hardly believeable, but shows how widespread mortgagee sales are in America and how crazy the system has become. A couple in Massaschusetts discovered one day their house (which was rented out) had been seized by a bank even though they didn't owe any money on it. Bizarrely, the bank is still going through legal system contesting the claim. The Bank is called the Bank of America. HT Troy Barsten via email.
The Massachusetts couple paid for their future retirement home in Spring Hill with cash in 2005, five years before agents for Bank of America seized the house, removed belongings and changed the locks on the doors, according to a lawsuit the couple have filed in federal court. The bank had an incorrect address on foreclosure documents "” the house it meant to seize is across the street and about 10 doors down "” but the Cardosos and a Realtor employed by Bank of America were unable to convince the company that it had the wrong house, the suit states. "Their own real estate agent told them, and nevertheless Bank of America steamrolled right ahead," said Joseph deMello, an attorney in Taunton, Mass., who is representing the couple. "This is a nightmare for anyone, and it affected my hard-working clients a lot." The Cardosos are seeking unspecified damages from Bank of America. The company showed negligence, trespassed and caused the couple emotional distress and financial hardship, especially because a tenant renting the home at the time got worried and left, according to the complaint. It's still unclear if the couple's credit rating has been affected, deMello said.
6. Financial Hub Bub - Matt Nolan at The Visible Hand in Economics asks some pointed questions about this idea of New Zealand becoming a 'financial hub' that John Key is talking about. Matt points out this idea was included in the Capital Markets Taskforce as a recommendation, but the detail was handed to Key separately...
Usually, people avoid putting things into reports and give them straight to ministers when their analysis is suspect "¦ On the face of it this is fine. We shouldn't tax the funds as we are just an intermediatary "“ we should tax the value added bit. Cool. Furthermore, there are jobs, implying that value is being added which creates labour income, cool. However, HOW do they plan to make us a hub. This is the important question. Do these jobs come from subsidising an industry and thereby moving workers from one sector to another. If so there are opportunity costs "“ and we better well have some damn good analysis about why market prices aren't providing the right signal. Now, it is trivial to state that a government action COULD have a positive impact "“ give me a possible policy and I can make up a model that would make it sound like a good thing to do. In truth, we need details so we can ask if we think it WILL have a positive impact "“ a situation which is only a small subset of all the "could" situations. And of course, to do that we would actually have to see some analysis "“ which we have been told was not put in the report.
7. The Chinese burn goes on - Reuters reports China raised the levels of reserves banks must hold for the second time on Friday.
Although investors had been expecting the People's Bank of China to push the reserve requirement ratio higher after an increase last month, few thought the second rise would come so soon. Markets were rattled by fears that monetary tightening in the world's third-largest economy would be more aggressive than had been reckoned on, potentially denting global growth. Investors pulled back from riskier assets, buoying the dollar. Stocks and oil fell, while European and U.S. bonds jumped. "The central bank is sending clear messages to banks that it wants more reasonable bank lending and it is paying close attention to inflation," Xie Xuecheng, an economist with Southwest Securities in Beijing, said.
8. The Ouzo crisis - John Mauldin at BusinessInsider has a nice wrap of the current Greek situation and what it means for the global economy. Despite the calming noises late last week, we are far from out of the woods. There are still no details on what a German bailout of Greece would look like and the political backlash from German voters is only just starting. Mauldin rightly points out Greece is not the only developed sovereign that will struggle. His last point is just as true for New Zealand as for other developed countries. HT Berend de Boer via Twitter
The market is not going to let Greece continue to borrow without showing some serious efforts at cutting their deficit, and probably not even then without some external guarantees. The history of Greek debt is not a good one. They have been in default 105 years out of the last 200. The current path is simply unsustainable. At some point, we can become Greece. Yes, we have the advantage of having our debt denominated in dollars, but that is only an advantage up to a certain point. The Nobel Prize economists (who will go nameless here) who say the US cannot default because our debt is in dollars miss the point. Being the world's reserve currency just means we can run up bigger bills, but if we go the route of printing money to pay those bills, that is devaluation and fraud, as the value of a dollar will diminish; and that is tantamount to default. Whether it is Japan or Portugal or the US or (pick a country), the body of evidence clearly shows that there is a limit to the amount of debt a sovereign country can handle without a crisis developing. That limit is different for each country, but there is a limit that the bond market will impose. And there are many countries in the developed world that are approaching that limit. We are in the fullness of time approaching the End Game. In country after country, the choices that have been made over the last decades will yield a Greek situation, where there are no good choices. And the longer the hard choices are put off, the more difficult they will become. For some countries it could mean deflation. For others, it will look like inflation on steroids. Countries with sensible budgets and policies will thrive.
9. Gotcha? - I try to avoid the climate change debate because I don't have enough time...but this story in the The Daily Mail seems to suggest something interesting has happened in this BBC interview with Phil Jones, a key climate change scientist. But I'm sure debate will rage over that too...sigh.
The academic at the centre of the "˜Climategate' affair, whose raw data is crucial to the theory of climate change, has admitted that he has trouble "˜keeping track' of the information. Colleagues say that the reason Professor Phil Jones has refused Freedom of Information requests is that he may have actually lost the relevant papers. Professor Jones told the BBC yesterday there was truth in the observations of colleagues that he lacked organisational skills, that his office was swamped with piles of paper and that his record keeping is "˜not as good as it should be'. The data is crucial to the famous "˜hockey stick graph' used by climate change advocates to support the theory. Professor Jones also conceded the possibility that the world was warmer in medieval times than now "“ suggesting global warming may not be a man-made phenomenon.
10. Totally relevant video - I watch TED talks whenever I can. They are 20 minute long pieces from interesting people about interesting topics. This one is from Jamie Oliver about the obesity epidemic that costs the US health care system US$150 billion a year. The US (and the rest of us) have some enormous fiscal problems being stored up for the future. BTW Some people may have noticed I've lost some weight lately (49kgs actually). I decided last August to spend some of my money (about NZ$20k) on a gastric bypass to reduce my weight and cure my diabetes. I was building up a big liability for the public healthcare system (probably a couple of million dollars in the last few years of my life) by eating too much, not exercising enough and trying unsuccessfully to lose weight with diets. It was my choice and I don't want to preach about it, but I am getting increasingly worried about a looming obesity crisis in the developed world. Please watch this compelling video. Jamie's use of a wheelbarrow full of sugar is worth watching.
107 Comments
Bernard - I think the
Bernard - I think the format is great and doesn't need to be changed.
I would expect an advantage is that you must get quite a few repeat clicks through to the site to see if the 10 ten at 10 is up yet.
Hi Bernard Lunchtime Links is
Hi Bernard
Lunchtime Links is fine by me. I don't usually get time to look at it much before then anyway. Prefer that to cutting it down to 5 topics.
@10 Increasing number of people I know have had bypasses. Jenny Shipley is one and by strange coincidence the actress that played her in McPhail and Gadsby, Pinky Agnew has also had one!
Hickey. No more dog-ate-my-homework excuses.
Hickey. No more dog-ate-my-homework excuses. Just deliver the goods: on-time and within budget.
MY wife mentioned to me
MY wife mentioned to me when she last saw you on the telly that "Bernard must have hit the gym over Christmas. He looks fitter". So I guess that's confirmation of your 'new' look.
How about a new title
How about a new title "The top 10 when I can get the time and enough tid-bits compiled to post them...but the post will still be worth the wait, I assure you."
Or maybe you can do it in Haiku format!
Here is one:
Hate Haiku poems
Short silly non sequitur
Rambling thoughts
Stupid
Good work Bernard, got any
Good work Bernard, got any before and after pics??
So what mechanism exists for
So what mechanism exists for say Germany to change out of euro....nothing!. Man, am I pleased I don't have any savings in euros. Bet the gold bars are selling like hot cakes across Europe.
Wonder if the news might have English sharpening the fiscal axe. He surely understands the need for Noddyland to be seen as prudent and not prone to splurging.
That's what English needs to
That's what English needs to do to the state sector and Noddyland's budget...give them a gastric bypass.
just go for a top
just go for a top 11 at 11. we dont want to eat into your lunch hour and three quarters.
Wally, the Euros just get
Wally, the Euros just get changed back to country of printing German notes have a D Greece an S or whatever. I think cash savers will be double checking and the notes printed by the PIGS will be discounted. Love to see the banks cope with that one. Ive 6 $100 bills 2 German, 1 Italian,3 Spanish .
who's most exposed
http://www.businessinsider.com/look-whos-going-to-get-slammed-when-greec...
NZX get out of carbon trading,at a cost
http://www.stuff.co.nz/business/3329198/NZX-flags-20m-hit
Now its getting really ugly
Now its getting really ugly in the EU
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/723601...
Re. # 6 It really
Re. # 6
It really is simple : you can only spend as much as you earn. The same rule applies if you are a household, company or country!!
Expenditure on the state sector and beneficiaries has run well ahead of our productive sector and sustainable revenue. Borrowing $250m per week to maintain "entitlments" and to continue the politically popular wasteful expenditure is absolutely crazy.
Benefits and state sector spending will be slashed in the near-term. Once the dominos of state solvency state to tumble, NZ will have no option.
<blockquote> The pressure to tighten
http://www.informationclearinghouse.info/article24675.htm
Ok, how about: "The 10
Ok, how about: "The 10 @ 10 late show with Bernard Hickey."
Bernard : Excellent to see
Bernard : Excellent to see those charts again , on the other link , as to why Labour had to go . .......... . Excuse me , got the memory of a goldfish .
As for the 10 @ 10 : Stick to the 10 a.m. time , but leave it open to the number of stories presented . Some days just are slow . Be flexible to what each day unfolds . TOP TALES @ TEN .
........... um , so you can't have gummy bears huh ? Diabetic . Hmmmmmm . More for me , then ......... yipppppppppeeeeeeeeeeeeeeeeeeeeeeeeeee !
Re #1. I can absolutley
Re #1. I can absolutley assure you Bernard, that the rise or fall of rents is a factor of the number of tenants looking and the number of properties available. I think the principle is called "supply and demand". I've been renting properties for 27 years, done hundreds of tenant changes. If 30 people are dead-keen on one property, not uncommon at the moment, there are always a few prepared to outbid the others, and you only need one.
Cheers AJ..I didn't know that...what
Cheers AJ..I didn't know that...what if the Greek printers have replaced the S with a D.
Their govt lied about the debts! Who is in charge of the printing? Bet the germans are trading 9 D for 10 S as we post.
Top 10 at 10 is
Top 10 at 10 is the main reason I check in at interest.co.nz
I'd prefer it stayed as is, but if it is a choice of 5 earlier, or 10 later, then I'd vote for 10 later (as long as the quality of the links is high).
Alan.
No matter what tenants pay,
No matter what tenants pay, Pete@3.32pm, there is only so much family disposable income, actual or gross- avaliable- debt. If it's used to pay higher rent, then less will be spent on consumerables= a slower economy=lower wages/higher unemployment. And when the rental return/cost- of- rental- property equation is negative ( as is the case in many properties now) the increased rent doesn't 'go around' the system; it goes back to the bank to service the debt. Higher rents is actually one of those things this country doesn't need right now.
You have to hand it
You have to hand it to Ambrose Evans-Pritchard. For years now he has almost been a lone voice in the wilderness decrying the nonsense that the Euro project is - or at least one of the few voices to have a platform. 'Little Englander' and 'yesterday's man' are some of the more printable labels that this viewpoint has attracted for the past 15 years.
Now he is perhaps within weeks of being proved right.
The irony is that the Labour maladministration of the last 13 years combined with the collapse of North Sea oil production will ensure that the UK faces a smilar fate, despite never having entered the deathly embrace of the Euro.
Nicholas. "Higher rents is actually
Nicholas. "Higher rents is actually one of those things this country doesn't need right now."
Totally agree with that. That's why I keep harping on about taking immediate and effective action to increase supply. Unfortunately the current strategy of setting up the straw man of greedy landlords then pretending that burning him is going to solve the problem is going to concentrate the ownership of rental properties into fewer and fewer hands, which will eventually corporatise the whole sector.
Re: Greece. This is my
Re: Greece. This is my guess and only time (soon) will tell...
They will call in the IMF (yes the EU will have to surrender on that with embrassment) but the IMF loans to Greece will be financed by EU member Central Banks.
That way, the EU itself (ie Germany /France) won't have to face the backlash from their voters for bailing out Greece (cos the money is lent to IMF and not Greece) and the IMF gets to do the dirty work of making the Greeks comply with the budget and spending cuts...voila !!! Problem solved...until the next crisis.....Spain anyone ??
Overall all over the developed world will see greater cuts in spending (both Goverment and individuals) and higher interest rates...any country (including the US) that's thinking of printing will be getting the big stick....plus Gold and commodities will soar !!
I guess this has stopped
I guess this has stopped the arguing over Turkey entering the EU.
Whatever colour paint English uses
Whatever colour paint English uses in May..there is no way he can hide the mountain of debt..nor that he is flat out heaping more on the top. The sooner he admits defeat and gets the axe out the better. There must be an easy 2 billion to chop off spending.
I guess at the moment he maybe wants us to remain in the debtors camp for some reason.
Letting Turkey in will at least solve the dinner problem.
Wally here are the country
Wally here are the country of origin details,
Every banknote has a serial number consisting of 1 letter prefix and 11 numbers.
The letter determines the country of origin:
Z Belgium
Y Greece
X Germany
W Denmark*
V Spain
U France
T Ireland
S Italy
R Luxembourg*
P Netherlands
N Austria
M Portugal
L Finland
K Sweden*
J United Kingdom*
H Slovenia
G Cyprus*
F Malta*
E Slovakia*
And add in the rumours
And add in the rumours that Dubai World is going to offer 60c in the dollar to it's creditors ( I thought we had this one sussed!), and it's all looking decidedly grim.
Guess who was behind all
Guess who was behind all the dodgy dealings that allowed Greece to hide it's debt?
Of course our old friends Goldmine Sachs. Is there anywhere left untouched by the Vampire Squid?
From The Wall Street Journal:
Wall St. Helped to Mask Debt Fueling Europe's Crisis
http://www.nytimes.com/2010/02/14/business/global/14debt.html?pagewanted...
Sorry if someone has mentioned
Sorry if someone has mentioned this above, but any theory on what a collapsing Euro does on the USD/NZD cross?
A surge back into the
A surge back into the USDL, as predicted by Hugh Hendry last year, is my best thought, Mark. The kiwi will get caught in the backwash. Hello, higher import prices and a deteriorating balance of trade.
Cheers Nicolas. Yes, that would
Cheers Nicolas. Yes, that would make sense. Good for our export sector, and dairy , of course.
It will be interesting because the US is in every bit as bad a position as the Eurozone, so I was wondering if the 'surge' would be into another currency, such as Yuan. It's getting to be soon there will be nowhere to hide - actually, conceivably some of that surge will come into Australasia, including NZ, , which seems safer than many parts of the globe now, given Australia/NZ are both commodity based economies - if that's more pressured than into US, NZD could still rise against the USD.
http://www.zerohedge.com/article/greek-fiscal-crisis-neoliberal-
http://www.zerohedge.com/article/greek-fiscal-crisis-neoliberal-oligarchy
All good stuff. The author points out the ECB held interest rates too low for too long - to the benefit of Germany as the principal exporter. So it is payback time.
He also points out Greece spends 15% of GDP on defence (!!!$$$***).
So perhaps the Greeks are not so naughty after all. They have merely found a way to make a crazy system work for them.
10 @ 10 is just
10 @ 10 is just fine, even late they are worth reading.
Greece is just like a junkie who will never address anything unless the juice is cut off, so cut the juice off and let them come out of the delusion.
The reason most renters rent is that they cannot afford a mortgage. The property market needs to come to its senses and stop deluding themselves thinking that the property goes up twice the rate of inflation year after year.
Not surprised to see the vampire squid in the background
I don't know if Ambrose
I don't know if Ambrose Evans-Pritchard is either a "˜Little Englander' or a "˜yesterday's man' - but I do know that he is a man with far too many surnames.
My view is that investors/markets
My view is that investors/markets are confused as to what to do with continued indifferent to bad news out of Europe and the US of A and indifferent to good news out of China/Asia & Canada & Aust.
You might imagine that you would take your money out of the relatively poorly performing places and put it in the better performing/growth places. But you'd be wrong.
On bad news in Europe or the US the money seems to flow out of the better performing "risky assets" and back to the US (particularly short term treasuries). You gotta think that at some point investors will start selling USD and USD assets on bad news coming out of the US. But where not there yet.
This means a weakening NZD on bad news out of Eur for the moment.
Bernard, stick to your core
Bernard, stick to your core business of providing 10 @ 10, do not extend yourself. Live within your means. Do not listen to the small but noisey minorities. You must balance your services verse the resources you have available to you. You could always send it to a select committee?
Oh that is right, you are not constrained by laws and statues, you can do whatever you like!!!! I wish the politicians could do that without fear of reprisal or abuse.
Wally, you'd think lopping 2
Wally, you'd think lopping 2 bill off would be easy. Labour somehow doubled the budget from 30Bill in 99 to 60Bill, cant be that hard to reverse some of that surely??
BH, like the 10 @10, one of the main reasons I visit interest.co now. I normally dont mind if they're up late, but not too much past lunchtime ;)
Fraud cases set to soar
Fraud cases set to soar
http://home.nzcity.co.nz/news/article.aspx?id=110841&fm=psp,tsf
http://www.stuff.co.nz/business/industries/3327541/More-fraud-detected-a...
10 at 10 is good.
10 at 10 is good. About the time I have my second coffee.....
Andrew J - great precis! How true...
Mark H - finally we agree on something - "they will have nowhere to invest".
And look how quickly wealth can vanish when it's only electronic numbers. All those trusting retired baby-boomers who thought in terms of tangible wealth, must be wondering where their 'money' went, with Bluechip et al. Not hard to vanish something which didn't exist in the first place.....
Bernasrd - just a thought - based on the sound principles of ecomnomic growth, aren't you up to 'top 12 at 10 by now? Or are you still re-'ceding? :)
Thanks Jamie and Bernard, I
Thanks Jamie and Bernard, I had no idea so much sugar in milk. Having recently bought a great coffee machine I can vouch for the effect of milk. Too many capuccinos, trim at that, and whoa there, several kilos heavier, since xmas. Looks like the offending machine may have to be locked away.
AndrewJ - that link and
AndrewJ - that link and this concluding statement;
"The take home is very, very simple: we can delude ourselves that the game can be won (it can't), or we can prepare for the imminent collapse when delusion finally fails."
... is just so on the mark.
We've decided this government is still in the deluded camp - and so have bought a 90 acre property - capable of running mini-hydro - 50 acres in pine - with some useful sheds and yards. Got it at nearly 40% below RV.
Time to move to the country!
Wise move Kate. Don't tell
Wise move Kate. Don't tell anyone about the hydro or the beaurocracy will be climbing all over you demanding money. Dump the pine at the first chance you get and plant a fast growing hardwood useful as firewood. That's a cash no tax activity. Plant heaps of kanuka seedlings and you will harvest garden poles in ten years. They go for plenty in the city. Welcome to the bush.
Kate - thats a big
Kate - thats a big call. Going feral. Personally I have always believed the country is a better place to be, but when urban people make a huge decision like that I think -wow.
Kate, I grow Robinia for
Kate, I grow Robinia for fire wood and ground durable timber, I hate the thorns but its fast growing and great firewood. 40 acres is a good sized block good luck with it,sounds like you got a good price. Need any advice on sheep or cattle,feel free to give me a ring. look at Wiltshire sheep if you want a low maintenance flock. May pay to get some Fresian x heifers as its about all you can buy anyway. Im having a hell of a time restocking my farm, stock prices are crazy. I like to taste a Wiltshire xTexel lamb, I love Texel's as they are so tough live for ages and are good eating. At the end of the day as far as taste goes a Merino beats the lot.
For anyone interested, I have a friend with a 20 acre lifestyle block in Arkansas he brought a nice house and a big pool for 115k us. My mate a PGGW tells me that land prices have collapsed,time will tell.
Hope your not talking friesian
Hope your not talking friesian jersey x Andrew, I was on an export facility last week where they are buying up large numbers of r 1s, price has jumped from $450 to $700 for f12 Friesians in the last 2 weeks. The xbreds have in turn gon a bit berko too.
Farmer Will, prices here have
Farmer Will, prices here have gone crazy,weaner bulls over $450 a head old ewes $90. There are no beef cows left after the drought so people are looking at Fresian/x heifers as an option to get back into cattle in the short term.There is a massive stock shortage and its going to be hell for the Works. Id sell your SFF shares. I have grass everywhere it never stops raining on the east coast. I think it may end in tears.
What about that breed in
What about that breed in the Country Cal. report...the ones with bald bums and bellies..no dags to deal with...some bloke called Roger down near Akaroa...into farming native birds and harvesting seaweed. Might be just the thing for Kate!
Tx AndrewJ - yes, we'll
Tx AndrewJ - yes, we'll definitely be in touch after settlement when we start to consider all those issues and options!
Unfortunately, the balance of non-forested land is not all pasture. The gully with stream is steep sloping bush, leaving only 7 hectares of pasture. But, enough to feed the family!
Farmer Will, yes, wow is right. We've been looking in the central NI, southern Hawkes Bay and Manawatu for what must be two years now. We also seriously considered the US - as I'm an American citizen and my brother has a lovely land holding in Pennsylvania. What we could have got there for the same money was pretty amazing. But my husband and kids are NZers through and through and so, as Bernard points out, where the children/grandchildren are was the main deal breaker.
Oh dear am I allowed
Oh dear am I allowed to sell my SFF shares now am I. The B@stards wouldnt let me when I wanted to Andrew and now they are next to worthless anyway. Yes it hasnt stopped raining here either, grass everywhere. Its a beautiful sight. Sold some steers last week. Just a bit too early, but I reasoned money in the bank...
Its gona be panic stations on the dairy farms too, not many heifers reared and not much AB done this past season. Heifers exported flat out.
Its ironic, I dumped a lot of my stock over the last 10 months and got into grazing. I just gave up on the beef schedule. A month ago I looked at buying in a few head, but it still didnt work in comparison with grazing.
Yup some tears will be shed. Either the meat companies or the farmers, this time I pick the meat companies could be on the losing end.
You might be able to
You might be able to do a carbon deal over that bush area kate. Cash for leaving it alone every year I'm told. Might be BS of course. Sounds like good pig country. Also might see the copper chopper flying low regularly!
Wally, yes we understand the
Wally, yes we understand the estimate on the 'value' of the trees in cc's is $12,000 pa. Not research we did however, so not really sure how the estimate was made.
:-) re the copper chopper.
Kate, I agree with Andrew
Kate, I agree with Andrew on the wiltshire. Gona get me some too. Look easy to farm. Had a look at the Dorper, wasnt impressed. Wool may have had a boost the last week or two, but really if you dont have to dag and shear, lifes a lot more fun.
I keep threatening to move nearer civilisation. When I read about the likes of you moving away, I rethink my motives.
Kate: How far out of
Kate: How far out of town is this place? I have read various articles & books on the topic - latest being "The Ecotechnic Future" by John Michael Greer. They all come to the conclusion that survivalist self-sufficiency in some remote location is actually unworkable. Various people have tried it & wandered back into town with their tail between their legs.
You can install micro-hyrdo, solar water heating, photovoltaic cells, etc etc, grow all your food & make clothes. But there will always be things that you need. The photovoltaic needs a new switch, you need more carbs to add to your veges, you need the medicine repeats. I hear you say, "OK, I can handle that."
Well, wot exactly are you preparing for? Peak oil? So when petrol prices zoom up, or petrol becomes unobtainable (rationing or hoarding), how are you going to get all those essentials? That is why I am asking how far out of town you are.
We thought seriously about it. But have now bought a 1003 square metre section on good soil close to the middle of town (15% under RV, not as impressive a drop as yours). Our thoughts are "if things get dicey, we can bike around town & grow quite a lot of veges & things anyway". Plus there is a doctor across the road & a nurse a couple of houses down, etc etc. These aspects of community support are as important as anything.
I'm not really anti your decision. I admire it & wish you luck. But don't get too rose-tinted-glassy about it.
Interesting to hear about your 40% below RV, it does seem that rural land has been taking the biggest hit.
Regards
hi Bernard, get rid of
hi Bernard,
get rid of Dilbert and the funnies.....that would save you a few minutes.
Keep the same format please;
Keep the same format please; I'm several hours behind you so noon doesn't affect me!Your 10 at 10 has a wide following as it saves us all searching through for the topical links. I hope that you're making some profit out of it somehow.
Or you could be really
Or you could be really wild and be a pleasant pheasant farmer!
BH...please keep Dilbert..I need my Wally.
Philly, good questions to Kate.
Philly, good questions to Kate.
I would like to give you my perspective.
I am a farmer, at present I can pay my bills and survive with a part time job as well. 25 kms from nearest small town. Yes, very worried about cost of fuel, and how I will get to town in 5 years time.
Dont ever expect or want to be self sufficient.
Too damn cold and wet up here to grow much in the way of fruit and fruit is what I love to eat most.
Not setting myself up with power, plan to stay on grid, its easy, I dont have to service it.
I would like to move closer to civilisation, but in reality selling at the moment is impossible so maybe I will stay for the long haul.
Yes I believe rural property has done 40%. Finding a buyer, then finding something to buy seems very difficult at present.
Community support will get better the more "stuck" we are, I believe. 50 years ago, rural communities were amazing.
For me I think the price of fuel is the biggest worry. Fertiliser 2nd. Both will reduce my ability to stock this land. I will be debt free in 7 years, if everything goes to plan. Then it wont matter.
Glad no land tax. Rates are big enuf tax and a land tax would make living out here even more impossible.
Gotta go feed the dogs, the staff are calling....
I think you can forget
I think you can forget about the carbon credits
Climategate U-turn as scientist at centre of row admits: There has been no global warming since 1995
Read more: http://www.dailymail.co.uk/news/article-1250872/Climategate-U-turn-Aston...
http://www.dailymail.co.uk/news/article-1250872/Climategate-U-turn-Aston...
Philly, proximity to a main
Philly, proximity to a main centre was one of our principle considerations - it's 12kms to Palmy on "the hill" as they refer to it.
We made a move out of Kapiti for the same reason - when it started costing me $80/week to commute to Welly, I thought enough was enough - and the writing was on the wall. AND, I loathed the train - tried that for about three months and it really wasn't all that much cheaper than taking the car (aside from if you included parking, which I always insisted on as part of my salary package anyway).
AndrewJ, agree on the cc's
AndrewJ, agree on the cc's - let's hope JK does the right thing and quits the nonsense - but I do wonder what is at play behind the scenes. Some of his friends in high places stood to be the biggest beneficiaries of the 'new' market.
Kate: Good on yer. Another
Kate: Good on yer. Another quite good book is "Carbon Neutral by 2020", Ed. by Niki Harre & Quentin Atkinson. We won't get into the "carbon neutral" at present, we don't want to get Mark Hubbard etc hyperventilating. However there are good chapters on home renovation to retain energy, organic growing, sensible transport etc.
I really really really think, as I feel to most posters to this site, that harder times await NZers in the future - either thru Greece-style debt or energy costs going thru the roof - & that minimising your lifestyle costs is probably going to make a lot of sense. Plus growing healthy veges & biking to work is enjoyable & good for your health. No, I'm not dropping any hints, Bernard!
Kate- if you want pointers
Kate- if you want pointers on mini-hydro, give me a holler. We've just got it sorted - have a look at the coming (March) issue of Lifestyle Block magazine.
We went for e nitens and Macrocarpa - down our way frost is an issue...
Good move - you'll never look back. I look at my contemporaries (mid 50's) and they're all paunched, stressed, thinning, wouldn't trade places for the world.
Philly - most of the 'tail-between-the-legs' lot will have one of the partnership (most often the female if it's hetero) not into it. It's easy, fun, and so cheap. Outside of mortgages, I recon a couple could live on a day's outside work a week each. Thats wage-level work.
We are 5 years down the track - house cost 50,000 ex labour, only needs heat after 3 days no sun. Electrics are easy (below 50 volts you can do it yourself) and cheap if you're self-disciplined.
Won't work for the lassie-fair though. Not enlightened enough to start with.
Kate, PowerKiwi, etc Acacias are
Kate, PowerKiwi, etc
Acacias are good, eg A. dealbata. Quick growing & give primo firewood really quick. Plus they coppice pretty well when young. Trim them up as they grow, or grow them in a thick clump to draw them up, & you get good clean poles, great for splitting. Don't underrate tagasaste (tree lucerne) either - 5 m in 3 years, incredibly dense firewood. Acacia & tagasaste are both nitrogen fixing.
Of course you should always have some macs or some softwood to blend with those hardwoods, & to get the fire going. Eucs are fine, but I have seen them become a damn nuisance if they get away on you - those other trees are a little more genteel in their ultimate height.
Hey, this is a better chat! Real world, not like all that financial $$$ cr4p!!
Plus AndrewJ mentioned Robinia -
Plus AndrewJ mentioned Robinia - yes, use the offcuts for great hardwood firewood, plus the Robinia also nitrogen fixing. Casuarinas (sheokes) ditto. I guess the flowers on the tagasaste (late winter flowering) & robinias would be primo for the bees, but not really my line, ask the apiarists.
Powerdownkiwi, wish I could find
Powerdownkiwi, wish I could find a partner who wanted to do the escape to the country bit. I am of the female persuasion ( will is an old nickname of mine), and being mechanically challenged and solo I opt for sticking with the grid. Apart from the height above sealevel, this place would be pretty good for self sufficiency. Good creek, could do the hydro thing, wind would be viable too. Good off farm work pretty handy. Not much debt. Easy peasy really. But not when flying solo.
Ta, pdk, will take you
Ta, pdk, will take you up on that and will check out that March issue. We want to consider solar and hydro - wind also a possibility but I assume consent issues would be near impossible for an individual landowner given I've watched what the power cos have gone through. Place has an Rayburn stove with wetback, so that should be great for starters - could hook in some radiators. Lots of possibilties.
@ Philly. Look over at
@ Philly. Look over at permaculture.org.nz if you're looking for more interesting ideas. Micheal Reynolds' books are a great source also. Thanks to the lack of political will in reforming the NZ economy, removing oneself as much from the monetary system as possible is your only way out.
Work to live. Not live to work.
@ Kate. Look into building yourself an 'Earthship'
FYI, I am no hippy.
Kate. You can get some
Kate. You can get some pretty small & efficient wind turbines now, but still consent issues. But b4 thinking of things like that & photovoltaics etc, check out those simpler things 1st - wetbacks, insulation, solar hot water, thermal curtains - between them they can make a huge difference. Don't sweat the power for the sound system & computer - its the heating of water & space that are the killers. Just do sensible things like turning them off at the wall etc.
Luke: thanks.
Hell's teeth , <b>Bernard</b> :
Hell's teeth , Bernard : You lost 49 kg . That's the same weight as my wife . You have effectively lost my wife in weight . ..................... . Jeepers , if I can get her one of those gastric bypass thingies , she'll disappear entirely !!!! ............$ 20 000 you say . Hmmmmmmmmmmmmmmmmmmm ?
there isnt many options when
there isnt many options when you have a breakdown,some take up teaching and others try lifestyle blocks as you can sell a house in the city for the price of a block in the hinterland with money left over.up north they last two to three years after they find that it is a wasteland,no banks,libraries,dentists a week to get an appointment to see the doctor and maybe two days for the local electrician etc; to turn up and then charge you 50bucks mileage!better to have a lower paid job with less stress than self destruct.
Im not worried about electricity
Im not worried about electricity in NZ. We have mostly Hydo and have a very efficient grid, by the time I cannot afford electricity, power will be the least of our worries. Im trying to be food efficient and that applies to most things. I think efficiency may be better than self- sufficiency. I am inclined to have busts of enthusiasm that wane quickly. I have a fully deer fenced farm so will release a few fallow deer this winter. I have a huge planting program mainly to attract birds and for aesthetics. Its been a very expensive program but im starting to enjoy the fruits.I was told that you can spend 20 k a hectare establishing trees ,I wont be as high as that but its cost me way more than I budgeted on. Pines are easy buy them by the hundred shove them in the ground. Oaks,rowan/hornbeam,atlas mountain cedar, lane roberts liquid abmber, various Oaks, flowering gums, titoki, matai, totara, cherries,chinese hawthorn, redwoods,cabbage trees,flaxes to name a few take some tending.If it goes belly up im going to be a bit uncomfortable but I think the biggest risk is from debt and job losses. I can feed myself but it will be a diet heavy in protein. Security is always going to be an issue but I do the best i can. I can store and do store fuel but I use a lot. I mainly store diesel about 1000 liters. We have a few horses so we can always get around. Its community that i need to connect with and make more of an effort with.
Alan: Yes, the distance is
Alan: Yes, the distance is the issue. About Kate's distance seems pretty good - eg 5 - 20 km from city limits. Beyond that has hassles, & these would escalate if the wheels fell of the cheap oil etc. I have a farmer friend at 14 km, he thinks it is about max for practicality if things got curly.
Some people think that when Armageddon strikes, & the rampaging hordes are going berserk, you are better off beyond their reach. But a) it is actually an unlikely scenario, oil isn't going to suddenly disappear, and b) as mentioned before, you just can't survive without the backup of your support network.
Cheers
top ten is why I'm
top ten is why I'm here with all due respect. Top ten links posted later in the day would be ok with me.
AndrewJ: I read something recently
AndrewJ: I read something recently by Bob Crowder, probably Growing Today. He grows a lot of coppice stuff, he can hand cut it all if he keeps disciplined & gets onto it at small diameter. Avoids the chainsaw aspect. Mind you, I reckon I get all my year's firewood cut on about 10 litres of fuel, which wouldn't get Wally's SUV far when the petrol supply gets dicey.
Yeah, Top 10, I don't
Yeah, Top 10, I don't mind if it is a bit later. I only get to read it over lunchtime like every one else.
Kate - wind is much
Kate - wind is much less dependable than hydro. Unless you are in a very consistent-wind site, the down-times can stretch for weeks, and nobody can carry battery capacity for such a time, whatever their chosen level of consumption.
Hydro is 24/7. Back it up with solar - for the drought times. It's silent, no moving parts, and I've been using it since 1980. Our panel is 50 watts, 5 years old, and currently (ha) runs the whole house.
L.E.D.'s are the trick - try the Cree 3 and 5 (and I think even 10 now) watt units. They fit into the (50 watt) halogen downlight sockets, and the 5 watter produces the same light!
If you're wet-backing, go for the biggest cylinder you can (ours is 1000 litres). Less often need for a fire in summer.
Kate: Think about wot Powerdownkiwi
Kate: Think about wot Powerdownkiwi is saying. 50 watts. How far is that going to go on your computer, stereo, washing machine, plasma TV, kitchen wizz, lights? No, unimaginable to anyone who likes any comforts. Go for alternative energy for heating, cooking, & hot water as discussed, sure do your microhydro if that turns you on, but don't give up on the grid.
Its like cars, medicines, food etc - minimise your use, find alternatives, but don't try to become a cave woman.
Interesting point on Chinas fiscal
Interesting point on Chinas fiscal withdraw, when one of Bernards friends, sons has just sold interests to China;
Nugen Farm, State Highway 2,
Norsewood
Area
194.6616 hectares held in nine separate titles.
Shareholding
The property currently holds 179,890 Fonterra shares.
I was under the impression that the son owned it but when I googled it I got this....
Receivership: Receivers enter Nugen Farms
Company: Nugen Farms Ltd
Directors: Robert Crafar, Reporoa
Receivership date: 9 December
Receivers: John Whittfield & Dennis Wood (McDonald Vague)
Other details: Mr Crafar is a director of AA Rural Concrete Ltd, RSC Ltd, Strategic Land Holdings Ltd, Torrent Farm Ltd & Windburn View Ltd. Crafar family company Crafar Farms Ltd was struck off the register in 2003, when it was amalgamated with Plateau Farms Ltd. Receivers were called into Plateau Farms, Ferry View Farms Ltd, Hillside Ltd & Taharua Ltd (directors Allan, Elizabeth & Frank Crafar, Reporoa) on 5 October. The Crafars' group of 22 farms "“ the biggest private farm holding in New Zealand "“ goes under the name CraFarms. They owe the banks $200 million.
http://www.bdcentral.co.nz/afa.asp?idWebPage=8338&idBobDeyProperty_Artic...
Oh by the way this....
.....may contain information that is confidential or subject to legal professional privilege.
So its bound to be interesting.
But who know whats really going on.....!!?!?!?
Bernard, you could just do
Bernard, you could just do an AM top 5 and a PM top 5...... or just build the list during the day.
Having only been viewing this site for under a year it seems as if it's visited by a pretty anarchic (in a good way) and busy mob, so if you're busy no one's gonna spin out.
That said, if you mess with Dilbert I'm gonna reprogram my ZX Spectrum to run a 3 year denial of service attack on you. I'm sure that's written from my office.
Further to NYT article, Simon
Further to NYT article, Simon Johnson wants some answers on the Vampire Squids dodgy dealings, how deep is this dirt trail leading right to the US treasury and Federal reserve itself.
Goldman Goes Rogue "“ Special European Audit To Follow
This audit should focus on ten sets of questions.
1/ Which eurozone governments have worked with Goldman, and on what basis, over the past decade? All actions prior to and after the introduction of the euro need to be thoroughly reexamined.
2/ What transactions has Goldman facilitated and how has that affected the reporting of European government debt? (Under the Maastricht Treaty, eurozone government debt is not supposed to exceed 60 percent of GDP.)
3/ In the case of Greece, the accusation is that Goldman deliberately and in a premeditated manner conspired to hide the true degree of government debt. Is this true, and to what extent has Goldman helped other countries engage in similar transactions, e.g., countries now seeking entry to the eurozone?
4/ What is the full extent of Greek and other government liabilities, if these are accounted for properly? Without this reckoning, it is impossible to design a proper level of European Union (or any other) support for weaker eurozone countries.
5/ Are there non-eurozone countries that have also been aided and abetted by Goldman in this fashion? For example, are the UK and Switzerland implicated "“ and thus endangered?
6/Has Goldman extolled the virtues of government debt in Greece, or other countries, while at the same time helping to deceive investors on the true risks inherent in those debts? What were Goldman's own holdings of these securities?
7/ Is there evidence that Goldman has structured similar transactions for the private sector "“ enabling companies to conceal the level of their true indebtedness? Have securities issued by such firms also been endorsed by Goldman to the buying public?
8/ Were Goldman's US-based supervisors aware of Goldman's activities in Greece and other eurozone countries? Did they condone activities that undermine the integrity of the European Union?
9/ Where was the European Central Bank while all of this was happening? Has the ECB become dangerously enraptured with the new Wall Street and its "techniques"?
10/ Did any responsible official really think that what Goldman was constructing was really some sort of productivity-enhancing financial innovation "“ as opposed to a sophisticated form of scam?
http://baselinescenario.com/2010/02/14/goldman-goes-rogue-%E2%80%93-special-european-audit-to-follow/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+BaselineScenario+(The+Baseline+Scenario)
I read somewhere last week
I read somewhere last week that American dairy herds have been culled down to 1958 levels. Does this have an impact on our industry?
Bernard: Good on the losing weight thing, but do beware of something else popping up in your life. A significant number of people who have had gastric bypass surgery later find themselves with a serious addiction problem; booze, drugs, and sex, so take care.
Investing in Kiwisaver...think again! http://www.nzherald.co.nz/
Investing in Kiwisaver ...think again!
http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&obje...
scary stuff.
Doug: Booze, drugs, sex........... You
Doug: Booze, drugs, sex........... You say that likes its a problem somehow!!???!!
Look at the Stones, it never did them any harm!
But then again, did I read above that Jenny Shipley had it done? Jenny & sex addiction??....... Scary!
Philly - times have changed.
Philly - times have changed. We lack nothing - and I say again - LED's. And you have to understand that this is where the world will go, on average, whether it is in denial or not. Exponential increase in demand meets peak extraction rates. It's mathematically undeniable, if politically unacceptable.....
We just saw it coming a long way out, and decided to pave the way. It's very comfortable, thank you.
Anyone who is into consumerism won't make it off-grid regardless of the power they generate.
Their problem will be the lack of ability to budget. Read: lack of self-discipline. Read: manipulable sheep.
I admit to only watching about one movie/week on the 'telly - but life is too short to waste more....
If you are on-grid, it isn't worth going off, true. But if you're green-fields, it's a no-brainer. Energy - even NZ hydro - will go exponential as the competition for oil steps up - where electricity can displace oil, it will.
Re Wally's 6.32am, GM says:
Re Wally's 6.32am, GM says:
"To the Government - get off your backside and start seriously implementing what the CMD told you to do. The longer you take, the deeper the hole this economy has to climb out of."
Gareth - you are wasting your breathe mate. You did with TWG, sadly, you have again, sadly.
Good article.
Cheers, Les.
The obvious game in euro
The obvious game in euro land today is swap your banknotes to end up with ones of quality or buy gold with the wrong ones. I see the Spanish are now blaming the market and the media for their indebtedness. How funny. The Poms have told them to "grow up". Memories of Manuel and his pet rat. Glad I stayed well clear of Kiwisaver .
Anyone for investing in Fiji....anyone....
Bernard - you should get
Bernard - you should get a $20k tax rebate, IMO.
Doug - got any stats/info on the secondary addiction problem pls? I'm not agin these kind of ops, but you might be making a useful comment about the root cause/major influencer of a problem possibly going unresolved and then manifesting another, equally, damaging way. Especially if Mr State thinks it's a grand idea to 'centrally plan' and sanction more of these ops, but the individuals, and we, still end up paying dearly if people fall for another sort of addiction.
(Got any stats on Gummy Bear overdoses?)
Cheers, Les.
..........urrppppppppppp ! Pardon me .
..........urrppppppppppp ! Pardon me . Got any gummy bear rehab clinics ...?......oooooooooohhhhhhhh , overdid it last night...........braaaaaaaaap ! Pardon..............
Nice piece by Mary Holm in the Press , yesterday , extolling the virtues of raising GST to 15 % . Ms. Holm feels that many commentators have been giving the mooted 2.5 % increase an unnecessarily hard time ............Not pointing the finger at anyone in particular of course , ay Bernard . Ahem !
Stevel I hear the Norsewood
Stevel
I hear the Norsewood farm is in a real mess and I would have thought too small for the Chinese. Part of a package deal?
Kate - brave decision. As
Kate - brave decision.
As others have said don't rush to go off grid if you don't have to. The fact that NZ gets 70% of its electricity from renewables has always been a massive plus for this country. I suspect gas is not going to be a problem either short-mid term (offshore Taranaki plus CSG)
Presuming your property is well sited for sunshine I would go down the solar hot water/insulation/double glazing route before investing in going off grid.
We moved from an uninsulated, woodburner - electricity hot water, non d-glazed 1920s villa with a footprint of 130m into a modern d-glazed insulated property with solar water heating and gas bottle supplied fire with a footprint of 265m.
Heating/ hot water costs in old place: about $3200pa
Equivalent in new place: $1500pa
We never felt that warm in the old place.
Bernard will like this one:
Bernard will like this one:
http://www.stuff.co.nz/national/3332371/New-Zealand-hit-by-premature-ageing
This "premature ageing" is caused by the Gen X & Ys upping & off to the magic allure of Oz.
Confirmed by demographics experts, so Bernard will be feeling his wailing Cassandra comments are justified...
Anyone with a NBR subscription
Anyone with a NBR subscription kind enough to give me a precis of this report of the liquidation of the Monaco resort in Nelson?
http://www.nbr.co.nz/article/unhappy-investor-succeeds-monaco-liquidatio...
PDK and steven (if you're
PDK and steven (if you're around). Did you see the piece in the Herald yesterday about jet-fuel from algae technology? They are saying they already have carbon neutral processes that make it cheaper than fossil jet-fuel. The USAF has been putting big work into it and Exxon-Mobil has put in really big $$$.
Wally "some bloke called Roger
Wally
"some bloke called Roger down near Akaroa"¦into farming native birds and harvesting seaweed. Might be just the thing for Kate!"
Yeah DoC will not allow it...yet there has not been a species that is commercially viable go extinct or endangered...
So what does he do with his excess weka?
OH yeah DoC doesnt accept native animals for wild release even thu they pass DNA dease checks...so he most probably does what we have to to..dig a hole and chop their heads off...
And this goes for near all our endangered species..
Key needs to look real serious into DoC operations as far as the cost of building up native species...their logic doesnt stand up to scrutiny
NZ can more than double the production of native species returned to the wild, save millions in the DoC budget, and create new markets in exotic high return meats/products/pet markets local and export....
Maybe someone who knows a producer who wants to make a name....
A doco showing how DoC regulations require breeders to chop off the heads of pure breed , dease free endangered animals instead of releasing legally....
On the other hand DoC take credit for expansion of populations of native birds, when these have been released illegally by others..
Wait for DoC to announce "new" colonies (that already exist) of kakariki up around the welsford, Lee, parkiri, Warkworth areas from the resent translocation population off the little barrier..
Where the hell are are quality investigative reporters?
they could have a field day with this...the ave NZer has no idea what is going on and the beuroctratic empire that DoC really is
Jeez Steps...Doc gotta blow their
Jeez Steps...Doc gotta blow their budget somehow or they cant ask for more. You know the rules. As for 'Roger' and his Weka....amazing how they are able to slip through an open gate. Trick would be to farm them in another country...say China and then export the meat to Noddyland. Bound to find its way onto Key's Beehive lunch platter.
Pete: I doubt all those
Pete: I doubt all those "magic solutions" stories. Fossil fuels has no convenient & cost-effective solutions. I see the Jatropha one has turned to custard. Exxon has a vested interest in keeping people trusting the never-ending supply of cheap fuel.
BH .. I'd like to
BH .. I'd like to see the top 10 stay if you can manage it.
@Pete, there really are no energy alternatives to oil that can be produced on the same scale. The world consumes around 80 MILLION barrels a day, each day every day 365 days a year.
@Philly .. there's no such thing as a "never-ending supply" of a finite resource.
Nelson Monaco resort in liquidation:
Nelson Monaco resort in liquidation:
http://www.stuff.co.nz/business/industries/3333083/Monaco-Village-in-liq...
$60m development teets oop.
You'd think that the promise of a guaranteed 8% return and the fact that the company had a SINGLE director who happened to have his wife as co-owner of the company might have rung some bells with the 'sophisticated' property investors who partook of this development.
But no, you'd be wrong. After all this is property your talking about, and you can't go wrong with property investing I tells yer.
Interestingly the same Mr Scott is attempting to gain resource consents for another big development on the coast just outside Nelson. One assumes the Tasman council will now do the right thing..........
Another $"X" million of New
Another $"X" million of New Zealanders savings gone..well...somewhere. There's not going to be enough left for the next round of property buying, at this rate. 95% loan on a deposit of 'bugger-all left' doesn't buy much house.
Andrewj I think that this
Andrewj
I think that this was one of four farms that were up for sale by Crafar Jnr, possibly recently transferred from Crafarms. I think that he didn't have a clear title to sell, with some sort of option to be possibly exercised on Crafarms from the Chinese.
Pure speculation but this may be related to Wrightson's new Chinese friend and Wrightson's lending exposure to Crafarms.
The farm was quite possibly overwhelmed with cows, the pr looked like it was set up to run 280-300 cows, they had 520.
Nice price though!
@Mark Hubbard: Anything could happen
@Mark Hubbard: Anything could happen as nothing happens in isolation...
The CDS market etc seems to link everything into one huge
messmesh....so when one Country or "thing" goes I really dont know how far that effect is felt....I dont think anyone does...regards
@PDK & Mark H: "finally
@PDK & Mark H: "finally we agree on something "“ "they will have nowhere to invest"."
I pretty much agree, except I wonder is it like musical chairs? large sums of money rush into something, cause a huge asset bubble which then implodes so the huge sums of money rush to somewhere else....rinse and repeat, leaving devistation in the wake.
For me the point I am trying to make or get my head around is we have "real" money made from 'real" profits from the "real" economy with "real businesses with "real" jobs in it....then we have the paper money invented from "thin air" which has to go somewhere....and the paper money is several times the value real money...if not factors worth...
Ditto debt there is real productive debt, ie debt that is used to do something positive that produces a profit that pays back the interest on the debt, the debt itself and a still leaves a profit...and then there is the paper debt....it doesnt produce anything, makes no profit to pay back the debt...ands is factors bigger...
Both these paper items are going into the real world because there is no where else to go...
So in the past where we had the vampire squid sucking the life out of the real economy, but now it has got to the stage that it is now strangling the terminally weak patient to death very quickly...the exponential curve is now so vertical that the effects are now so huge that I cant see anything but a huge mess...
regards
regards
AndrewJ Says: "I think you
AndrewJ Says: "I think you can forget about the carbon credits Climategate U-turn as scientist at centre of row admits: There has been no global warming since 1995"
He didnt actually say that, at least without the context, ie statistically the rise over the last decade is there but its close to the top of the statistical error, however over the longer period ie 150 years its not within statistical error its very clear there is global warming.
So what is really happening in the Dmail article is at least misleading if not lying...by not giving the context and even re-wording his sentences....
Add in that other data GISS dont agree as their raw data base yes there is....the two data sets and methods differ slightly that's all.
The BBC appears to have the original transcripts of the interview...
http://news.bbc.co.uk/2/hi/science/nature/8511670.stm
"Do you agree that from 1995 to the present there has been no
statistically-significant global warming?
Yes, but only just. I also calculated the trend for the period 1995 to
2009. This trend (0.12C per decade) is positive, but not significant
at the 95% significance level. The positive trend is quite close to
the significance level. Achieving statistical significance in
scientific terms is much more likely for longer periods, and much less
likely for shorter periods. "
So he's explaining why....
regards
Stevel Are these farms being
Stevel
Are these farms being purchased by Chinese individuals or companies with links to the Govt. Its one thing to sell farms to people who wish to move here and farm them, for a sovereign Govt to start buying land in another country opens a can of worms that as scary as hell for the future of all Kiwis.
Yep AndrewJ, China is going
Yep AndrewJ, China is going to start stocking up on milk powder, makes a change from iron ore and copper.
Maybe they can buy the
Maybe they can buy the European milk mountain, I hear the EU is a bit short of cash at present and thats a mother of a mountain.
"scary as hell for the
"scary as hell for the future of all Kiwis"...that's what some Maori bloke said in the King Country circa 1860!.
AndrewJ Its just the Chinese
AndrewJ
Its just the Chinese off loading some of thier $US IOU's to us in exchange for some real land. I would have a tangable asset such as land rather than some funny money that they seem to keep printing. At least NZ can pay off some of its funny money debt.