Here's my summary of the key news overnight in 90 seconds at 9 am, including news that fears are waning - or becoming more 'realistic' - as the US 'fiscal cliff' approaches.
High level negotiations are now reflecting the reality of President Obama's big win, with taxes-on-the-rich appearing to be much more likely. At the same time, markets seem to be accepting that it is not a 'cliff' that is being approached, but a 'slope'.
Staying in the US, their housing markets are seen recovering on the back of better economic prospects and low interest rates. A similar vibe is coming from China.
And that theme is playing in New Zealand as well, with the latest ASB housing confidence survey showing most people expect prices to rise, a survey result close to a record. Few people in Auckland, however, think now is a good time to buy.
Over the weekend, the Labour Party released its housing policy, targeting affordability with a promise to build 100,000 cheap homes over ten years.
In Australia, they have worries of an approaching cliff as well - a growth cliff. One to keep an eye on.
And back in China, officials there say they are preparing for a 'full convertability' for their currency. That will be a coming-of-age for the Chinese economy.
The NZ$ starts the day at 5.1 yuan to the NZ dollar - we have tracked the yuan closely since mid June - 81.2 USc and 73.1 on the TWI.
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5 Comments
Above story in the New York Times on the weekend about NZ. A bit goulish...
Goulish rp...maybe, 100% accurate definately.!
Would love to see Key on the Hardtalk chair once more trying to bullshit his way through the evidence, even though he's now a more experienced bullshit artist, he'd have to appear downright delusional to not to reach for a napkin when the dribble started to pool then flow.
Just another river of shite....oh please excuse the Font error.
accurate yes Christov. Have to agree. But makes us look absolutely horrible...I quote:
"half of the country’s freshwater recreational sites were unsafe to swim in. Fecal contamination of waterways, caused largely by dairy farming..."
"...people who swam in those rivers were at a high risk of illness, including serious diseases like giardiasis, cryptosporidiosis and campylobacteriosis. The waterways were the cause of 18,000 to 34,000 cases of waterborne disease each year...."...and the clowns at the NZIER believe that we will all be better off with a higher population.
Some in this country will not be happy until they have asset stripped the counrty bare.
They have been warned time and time agin that our environment has a $ value by being simply left alone. But they just don't get it.
It's become a vote swinger for me.
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