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Most viewed
90 seconds at 9am: Obama swings at big banks; Dow falls; China overheating fears
Bernard Hickey highlights the key news overnight in 90 seconds at 9am in association with BNZ, including news Barack Obama has come out after the recent Senate race loss and announced plans to reduce the size of 'Too big to fail' banks and restrict their activities. However, he still needs senate approval, which will be much harder to get after the loss of the senate seat in Massachusetts.
The Dow fell 200 points on the news and fears about an enforced slowdown in China. GDP growth there sprinted to a red hot 10.7% annualised in the December quarter.That is too fast and the Chinese authorities are expected to crack down on easy lending and low rates. The NZ$ was down at 71.2 USc as risk appetites waned.
Meanwhile, news out overnight from Greece of plans for a global bond issue denominated in US$, yen and euro has failed to calm nerves about a default there.
3 Comments
You could wonder if Obama
You could wonder if Obama waited until he lost the seat and it became unlikely he would get anything through Senate, before launching into some more rhetoric and a few threats against the Banks. He has been a huge disappointment for a lot of sincere people who hoped he might be "different".
Nothing will change - Obama
Nothing will change - Obama is a puppet and he knows as long he can give the people bread and the weekly circus to watch then it will be business as usual in Washington and for that matter in Wellington. The question is what will happen when the bread runs out as you cannot get the masses to watch a circus unless you have a few crusts to throw at them.
There is no difference between
There is no difference between OBAMA and KEY and BROWN and ....and ...and....et al.
There you have the crux of the WORLD'S problems. DEBT....and the downwards spiral.
Miss-management on a grand scale.....and my grand is bigger than your grand.
At least for a while.
The politics of....Screw you all...I am all right JACK....and favour the few who GAMBLED your money away...and mine.........and still are.
Houses a pack of cards....held up by reducing rates to below the norm to entice more idiots into the fray.
Farms a pack of cards....and still we try to sucker the overseas punters into buying.
Why sell an asset......if it is so productive. Carter Holt.....
or.....is that ...Carter & Crafar... halt.
A nutshell start to the nutty YEAR.
Must be a CAD-BURY's fruit and nut case. Krafty....eh.
Now that at least can be be shrink wrapped.....to save on expenses...and outsource the lot to CHINA........leaving the great Kiwi...workers shafted....but not too rapt.
We can then sell them our milk.....at ever decreasing prices.
Fonterrible needs more money....to pay the BILLS.....and English is trying to restructure our economy to pay HIS.
Strange old world...eh.