90 seconds at 9 am with BNZ: Blockbuster near bankruptcy; Dow down on weak results; NZ$ strong as US$ weakens; Gold at record high on money printing fears

MMMM, printing press = devalued US dollar and a more competitive US economy, inflation (which is what is driving the increase in Gold) which reduces debt repayment issues and gives the finger to the chinese whom own the debt.

Read Martin Wolf's Fixing Global Finance, it still remains true.

Yesterday we had people like that Duke dude telling us the bottom of the market had been reached and to buy ,buy buy... then today it all dips back..this is a regular and monotonous pattern indicating there is no pattern..i.e. the new normal?

Equities on Wall Street have declined for a second day as investors bought US Treasuries in anticipation of  the Federal Reserve buying more government debt to prop up the economy...so what do you think that really means,huh?

In late trading, the Dow Jones Industrial Average slid 0.25%, the S&P 500 declined 0.54% and the Nasdaq Composite Index dropped 0.89%.

The benchmark 10-year note yield dropped 6 basis points, or 0.06 percentage point, to 2.52% in early afternoon trade in New York, according to BGCantor Market Data.

The only certainty seems to be gold...my advice is to forget about buying the actual product;buy key stocks in high-tier gold producers like Newcrest in australia or Barrick etc.

This world is weird on the outside and wild at heart..which is good!

Here's the risk....there is less real gold out there than the amount recorded as being owned...now what might happen when this truth dawns on Mr Market and all the fools who own bits of paper ?

It`s going to happen very soon. The great

event which will end the horror. Which will

end the sorrow. Next Tuesday, when the sun

goes down, I will play the Moonlight Sonata

backwards. This will reverse the effects of

the world`s mad plunge into suffering, for

the last 200 million years. What a lovely

night that would be. What a sigh of relief, as

the senile robins become bright red again,

and the retired nightingales, pick up their

dusty tails, and assert the majesty of creation!

he's into it too...like chickenman.. it's everywhere !

I'm a newbie here, and I have a question which someone might have an insight into......

18 months ago, every NZ Herald I picked up (which wasn't many) the front pages were filled with doom and gloom, quite rightly so probably.....yet it seems to me the media has backed off painting things so bleakly.

Yet, for the man on the street (I'm involved in social research) in the main feels things are worse than 12 months ago, and with GST and the like set to kick in, which seems hugely underestimated of how that will effect your working class household......

I mean, I dont think there should be mass panic, but our daily papers seem to be either tired of reporting on the ongoing hardships facing most average households....or for some reason they dont wish to take that stand.

ANy ideas why the media is not interested?? 

Or another way of putting it:

Easy 'money' holders seek hard money.

what you're talking about ,ante, is negative reinforcement and you'll find that a great lot of people will grumble that over the last 18 months it's the media who have talked up the recession....and they blame them partially for the misery in their lives.

the reality is that it's often their own faults for over extending on debt and also due to global forces beyond their control

i think the media bosses have realised this and that the populace were starting to "blame" them ( quite rightly) so they've throttled back.

misery loves company...ask gummy bear?

Oh yeah there she goes...thump wallop crash and Kiwi is down for the count....good news for tourism though...the aussies will be coming by the plane load this summer...gotta escape the heat you see and the flies and spiders!....and Gillard

Sign of the next dip?

http://www.stuff.co.nz/business/industries/4159559/GDP-growth-lower-than-expected

From Rooters : Study shows wealthy benefit most from US tax breaks : Billions of dollars in US tax breaks to encourage home ownership , retirement savings , business start-ups and education mostly benefit top income earners and do little to help lower and middle-income people build wealth . ( study sponsered by CFED ) ....

... ummm , Michael Cullen , was this your conclusion too , after 9 years of extending the welfare net , and equalisation schemes and packages ? Admit you were totally wrong ?

http://www.youtube.com/watch?v=wy97lOwvECs

Head of research at Australian boutique fund manager PM Capital, Ashley Pittard, believes a significant discrepancy in the valuation of blue chip stocks in Australia compared with the US market offer contrarian investors significant opportunities over the coming decade..

In a delightfully expressive commentary on the wisdom of using Android, Nokia's outgoing chief smartphone person, Anssi Vanjoki, declared that those who use Android are, philosophically speaking, "peeing in their pants" like Finnish boys do to keep warm.

There seemed to be no explanation why it was only boys who perform this peculiarly Finnish ritual. However, he did offer that cell phone manufacturers who use Android are only giving themselves temporary relief, being somewhat blind to the stinging possibility that Android-use will not bring them long-term profits.

Read more: http://news.cnet.com/8301-17852_3-20017114-71.html#ixzz10JGfVDSs

Call for a rate hike across the Tasman grows louder...seems even the CBA is sure an Oct rise will take place now. What will that do to the kiwi/au cross?

Thanks for all de comments up there re why the good ol Herald is not printing stories on just how bad it is.....makes a bit more sense to me now.    Heres another question for ya

WHY are banks increasing, encouraging credit card usage/limits when they know people are already living beyond their means, and why is their not legislation to guidelines to stop them taking advantage.....not everyone has the good sense to put themselves on a reign,

after all that went on with finance companies etc, you'd think that there would be some tightening on loan sharks, bank sharks etc.....

and another question - does anyone know if we, the rate payer really are paying for the leaky homes payouts ??  is it my imagination or are there a heap more metre maids and tickets being written out.......p.s. i wrote in and got off the bus lane one, as they had no evidence and well, they must have got thousands of letters.

and what about our insurance - its goin up and up.  I now have third party car insurance.

all due to twin towers, etc etc and now CHC earthquake.....we all pay in the end.

Im goin bush.