Apr 18 00:49

Earnings downgrades topple NZ sharemarket from record high

Earnings downgrades from three big NZX-listed companies have stopped the share market from bursting through the 10,000-point barrier on the S&P/NZX50 index.

The declines were led by Tourism Holdings (THL), whose shares were heavily sold off after the company issued a surprise earnings downgrade.

That downgrade, together with weather-related downgrades for Mercury Energy and Genesis, made for a soggy start for the share market, which yesterday closed at a record high of 9982.2.

By 10.45 am, the index was at 9,946 points, down 0.4 per cent.

Apr 17 17:32

Many People are Too Broke for Bankruptcy

Apr 17 16:18

It looks like the stock market is in a bubble

Apr 17 15:37

The Market’s Lying Highs Exposed

Apr 17 13:52

U.S. Soybean Exports Plunge, No Recovery In Sight, Farmers Are Concerned About Tariff Man

Despite earlier good news on the US-China trade deficit, U.S. soybean exports have plunged to their lowest levels since the early days of the U.S.-China trade war in what is an alarming sign for farmers pleading with the Trump administration to resolve all trade disputes.

Current data from the U.S. Department of Agriculture (USDA) revealed that the total U.S. soybean exports reached 460,700 metric tons last week, down from 888,700 tons in the previous week and just above 446,500 tons in the same week a year ago. Of the soybean shipments last week, only 130,200 tons were loaded on vessels for China.

Apr 17 11:45

The world’s best airport just got even better | CNBC Reports

Apr 17 11:41

World Trade Suffers Biggest Collapse Since Financial Crisis

The recent collapse in world trade volume is the worst since the financial crisis and as dangerous as during the dot-com bubble of the early 2000s, according to The Telegraph.

Data from the CPB Netherlands Bureau for Economic Policy Analysis revealed that world trade volume dropped 1.8% in the three months to January compared to the preceding three months as a synchronized global downturn gained momentum.

Apr 17 11:34

Nestlé And Carrefour Trial Blockchain For Greater Food Transparency

By Diana Ngo

Swiss food and drink multinational Nestlé and French hypermarket chain Carrefour are trialing blockchain to provide consumers with greater transparency in the food sector.

From April 15, 2019, the technology will be applied to the famous Mousline instant mashed potato brand, available on shelves in Carrefour stores around France, to enable consumers to access reliable and unfalsifiable information on the supply chain and production of the products...

Apr 17 11:33

We’ll Pay the Retirement Bill for Many

Apr 17 10:41

How Big Government Politicians Cause the Inequality They Claim to Fight

By Daniel Kowalski

With the 2020 presidential election on the horizon, there are currently over 15 serious Democratic contenders competing for the party’s nomination. Some candidates, like Andrew Yang, have detailed policy proposals they are consistent about. Others seem to keep maneuvering left with their positions in order to outflank their competitors, while a few seem content to be like weather vanes, ready to move in whatever direction the winds of populism are blowing.

It’s a diverse group, but the one thing they have in common is that they are running on the platform that capitalism is broken—and only politicians can fix it. We’re told that income inequality is a great threat to American society...

Apr 16 18:49

Should Gold Investors Root for Deflation?

Apr 16 15:25

Almost every adult in Britain could receive a £300 windfall from Mastercard after 'landmark' court ruling paves the way for a £14billion damages claim

Nearly every adult in the UK could be in line for a payout from Mastercard after a £14billion damages claim against the payment provider was revived by the Court of Appeal today.

The legal action is being brought against the card giant by Former financial ombudsman Walter Merricks.

He said the maximum payout from the proposed 'opt-out' claim will be around £300 for anyone over the age of 16 and who was a resident in the UK for three months or more between 1992 and 2008.

Around 46.2million people could qualify for the payout - including those who have never had a Mastercard, according to Merricks.

Apr 16 11:58

5 Factors that Could Propel Gold Past $1,350

Apr 16 11:36



We often think of video games as fiction, but the US government has weaponized them to advance its agenda around the globe.

Venezuelan citizen journalists Orlenys Ortiz and Sancocho Power have drawn attention to the similarity between the plot of a 2013 first person shooter game, Call of Duty: Ghosts, and alleged acts of US sabotage against the country this March.

Call of Duty: Ghosts is set in a dystopian future after the Middle East is nuked. A Venezuelan general comes into power, establishing a socialist style federation that spreads across Latin America like a disease, uniting all oil producing nations and expelling US citizens.

Webmaster's Commentary: 

Somewhere, in this big, wide world of computer games, there need to be a few, which bring the concepts of cooperation, personal responsibility, free thought, and the taking care of others need to rule the day; otherwise, I am deeply concerned that our world will become just as dystopian as is this game.

Apr 16 11:28

Jason Burack: The Most Bulletproof Gold Stock

Apr 16 11:22

Lior Gantz – Get Ready for QE4

Apr 16 11:19


It’s no secret that health experts and nutritionists have been wary of high fructose corn syrup for years. But now they have one more reason to advocate against it: a new study published in the journal Science says that the sugary substance boosts the growth of cancerous tumors in mice.

The study, conducted by researchers at Cornell University and Baylor University, found that consuming a modest amount of high-fructose corn syrup every day—about the equivalent of drinking one can of soda—can accelerate the growth of cancerous tumors in mice’s intestines.

Apr 16 10:52

Where Is Inflation Hiding? In Asset Prices

Apr 16 10:36

'We are taking loans just to pay bills': Broken Minnesota farmer posts heartbreaking Facebook video

It's not the weather that is causing farmers to commit suicide, it's corporate run dairies and farms that hire illegals to do the work while they rake in the money ... They also get deals on regulations, taxes and fees... How is that fair to the average farmer, rancher or dairyman ??


'We are taking loans just to pay bills': Broken Minnesota farmer posts heartbreaking Facebook video to reveal how the average salary in his industry has dropped to just $15,000-a-year

Mark Berg, 26, posted an emotional six-minute-long video, viewed more than 300,000 times, voicing his frustration over the strain of running a dairy farm

The young farmer, brushing back tears, talks about his father telling him that he has less than when he started the business 40 years ago

Apr 16 09:39

‘We’ve Really Passed Tipping Point Of Danger’ Says Rev. Andy Bales On The Homeless Crisis

In Los Angeles County alone, there are 41,000 transients living on the streets.

And for Rev. Andy Bales of the Union Rescue Mission, he says the homeless crisis has reached a breaking point.

“At this point, I’m very concerned about everyone in L.A. because we’ve really passed the tipping point of danger because we’ve left so many people for so many years to be devastated on the streets,” he said.

The Los Angeles Police Department recently released new body cam video that shows an interaction between police and a transient armed with a knife in downtown Los Angeles.

In the clip, officers are seen reasoning with the transient in an effort to get him to drop his knife. Moments before, a woman inside the café described how the man had threatened to slice her throat.

Police eventually had to fire half a dozen rounds of non-lethal force as the man used a chair to block the bullets.

Apr 16 09:34


Widespread drug use and homelessness in plaguing all socialist regions of the country. From San Francisco, where pedestrians have to literally watch the homeless shoot up, to Los Angeles where Medieval diseases have returned thanks to policies which have made it impossible for the everyday American to scrape by anymore.

Seattle is also committing suicide. “It is about the damage they inflict on themselves, to be sure, but also on the fabric of this place where we live. This story is about a beautiful jewel that has been violated. And a crisis of faith among a generation of Seattlites falling out of love with their home,” said KOMO’s Eric Johnson in the intro to the video he helped create about the crisis. Years of authoritarian socialist policies are taking their toll on America’s cities. It’s time to say “enough is enough.”

Apr 16 09:21

Russia replaces Venezuelan crude on European markets

European refiners are switching to Russian sour grades as US sanctions have shrunk Venezuela’s similar-grade exports, Reuters reports, adding that the Russian sour crude is getting increasingly expensive.

Citing sources from the trading industry, Reuters says the situation has been made worse by the fact that OPEC members have cut mainly their output of heavier, more sour grades under the OPEC+ agreement aimed at stimulating a price rise.

US crude is not an alternative as it is overwhelmingly light and sweet, while refineries in Europe are equipped to process heavier grades as well as light ones to make refined products.

Apr 16 08:44


For years, law enforcement has been claiming that drones will only be used for natural disasters, crime scene investigations, car accidents and rescue operations.

That is the bill of goods, being sold to the public but it is all a lie.

A perfect example of how law enforcement promises the public one thing and after time passes, uses it for something else is taking place in Texas at the Memorial Villages Police Department (MVPD).

Two years ago, Click2Houston reported how the MVPD claimed that they would only use drones for "better emergency response during disasters." They also used police officer and UAV pilot, Larry Boggus to solidify their claim that drones would only be used for natural disasters saying, "drones are a huge asset for us because very quickly we were able to see the amount of houses that were damaged" during a 2018 storm.

I love it when police department's provide comic relief to prove my point.

Webmaster's Commentary: 

Looks to me, as though they are combining the worst parts of drone technology, which is "Robcop goes Full "Minority Report."

Apr 16 08:39

Italian banking major to pay hefty US fine for Iran sanctions-busting

European subsidiaries of Italy’s biggest bank UniCredit have pleaded guilty to US charges of violating sanctions against Iran and other countries. The lender has agreed to pay $1.3 billion to settle the six-year probe.

UniCredit’s units in Germany, Austria and Italy admitted to illegally moving of hundreds millions of dollars via the US financial system on behalf of sanctioned entities, according to the US Treasury Department. The violations reportedly included sanctions programs against weapons of mass destruction proliferation.

Apr 16 08:38

‘Pompeo lost his mind’: Chinese diplomat hits back at US attacks on Beijing’s investments in Chile

The Chinese ambassador to Santiago called US Secretary of State Mike Pompeo “a hypocrite” after he tried to dissuade the South American nation from dealing with Beijing, as the US and China remain locked in a trade war.

“Pompeo has lost his mind and gone too far,” Beijing’s envoy to Chile, Xu Bu, said, slamming the attacks against Chinese economic activities in the region as “malicious” and “absurd.”

Mike Pompeo earlier called Chinese investment projects in the South America “debt deal traps” during a visit to Santiago. Beijing “often injects corrosive capital into the economic bloodstream, giving life to corruption, and eroding good governance,” he said.

Apr 16 08:04

The Market’s Misread Of The Fed’s Minutes

Apr 16 07:53

My Obamacare Nightmare: Yes, the Government Can Terminate Your Healthcare

By Brenton Smith

For most politicians, the Affordable Care Act (“ACA”) is simply wedge politics. Democrats see the program as a lasting legacy to their party and are unwilling to admit there is a problem with ACA. Republicans, on the other hand, tend to see its shortcomings as a political gift from heaven and are unwilling to fix even the most appalling problems with the program’s operations.

For the people stuck in-between these fixtures of politics—the self-insured—the Affordable Care Act is an ongoing nightmare and a caustic warning for anyone dreaming about Medicare for All. I know because I’m one of them...

Apr 16 07:32

Debanking: Chase Bank “moral character” a Reason They Don't Do Business w/ "those types of people"

Apr 16 01:11

NZ risks becoming a nation of mortgage prisoners

The growing number of New Zealanders who do not own their homes are in for a tough retirement.

This is according to a study out of the University of Otago that argues for a revamp of NZ Super to better protect Kiwis who are still tied to a mortgage by the time they stop working.

"We're staring down the barrel of future generations of non-homeowners being less able to achieve acceptable standards of living when they retire because of the critical factor of homeownership," says Dr Helen Roberts, of the University of Otago's department of accountancy and finance.

"Essentially, homeowners are in a better financial position in retirement, and we've got fewer people owning homes," Dr Roberts adds.

Apr 16 01:08

(NZ)Bank capital changes will cost economy, ASB warns

The Reserve Bank's proposed tightening of capital requirements for local banks could permanently dampen the economy by more than one per cent of GDP, ASB economist Nick Tuffley has warned.

The proposal would also equate to an additional half a per cent on mortgage rates - although that would likely be offset by a lower official cash rate, he writes in a new report.

The RBNZ has proposed to increase capital requirements for locally-incorporated NZ banks, by 2023. The required Tier 1 capital ratio for the "big four" (ASB, BNZ, Westpac and ANZ) will be increased from 8.5 per cent to 16 per cent of risk-weighted assets.

In the report Tuffley acknowledges that the RBNZ is "not swimming against the global tide", with other regulator lifting requirements.

Apr 15 15:56

Central Bank Continued Surrender

Apr 15 13:42

Happy Tax Day! Here Are 6 Infuriating Ways the Government Spends Your Money

Happy April 15, everyone! The federal government collects about $3.5 trillion in tax revenue each year, according to the White House Office of Budget and Management. Here, in no particular order, are six of the more infuriating ways that money has gone to waste.

Apr 15 13:07

Hedge Fund Legend Ray Dalio On The Economy

Apr 15 12:30

So the wave of guide downs starting?

Apr 15 12:12

Warren Buffet Indicator Signals Bearish Bias

Apr 15 12:05


The catalyst of the next financial crisis has been identified, according to some economic analysts. The growing mountain of corporate debt, which has already forced the “retail apocalypse” will also jumpstart another financial crisis.

One of the factors in the next financial crisis will be the enormous accumulation of debt by large private companies and the way these debts are used. Many have already expressed concerns about the mounting levels of debt gathered by corporations, governments, and individuals. But now that it is all becoming visible, the debt issue is alerting even the most unconcerned to the problem at hand. But some are still ignoring the obvious problem: debt.

Apr 15 12:04


Back in 2017, when they were making their supportive case for Trump’s tax cut and offshore tax repatriation holiday, the largest US technology companies promised they would go on hiring sprees and boost the economy. Just over a year after getting what they wanted, fund flow data shows that – contrary to Goldman’s recent calculations – these firms gave most of their huge tax savings to investors in the form of buybacks.

According to Bloomberg calculations, the top 10 US tech companies spent more than $169 billion purchasing their shares in 2018, a record 55% surge from the year before the tax changes. And, according to TrimTabs, the industry as a whole authorized the greatest number of share buybacks ever recorded, totaling $387 billion: more than triple the amount in 2017.

Apr 15 11:50


One day before Democrats on the House Financial Services Committee held an historic grilling of the CEOs of the mega banks on Wall Street, the nonprofit watchdog, Better Markets, released an in-depth research report on “Wall Street’s Six Biggest Bailed-Out Banks: Their RAP Sheets & Their Ongoing Crime Spree.” The report detailed facts, figures and this inescapable conclusion:

“[Six Wall Street mega banks] have engaged in—and continue to engage in—a crime spree that spans the violation of almost every law and rule imaginable. Taking the breadth and depth of their illegal conduct as a whole, the six biggest banks in the country look like criminal enterprises with RAP sheets that would make most career criminals green with envy. That was the case not just before the 2008 crash, but also during and after the crash and their lifesaving bailouts…In fact, the number of cases against the banks has actually increased relative to the pre-crash era.”

Apr 15 11:48

Probably Nothin'!

Apr 15 11:46

Stuff We Can't Afford, Part 1: Paying People To Live On Flood Plains

Everyone has been there: Times are good for a while and it starts to seem reasonable to buy – or agree to – things you want but don’t need. Later on, when money gets a little tighter, you start prioritizing and realize you really didn’t need the leased Mercedes or the McMansion with all those empty rooms.

With luck you figure this out before being crushed by the weight of your bad decisions. But for a lot of people the return to financial sanity comes too late.

That, alas, is the near-certain fate of most major countries these days. Between cradle-to-grave entitlement systems, global military empires, inflated public sector pensions and myriad lesser but still in the aggregate ruinous commitments, the fiat currency era will go out in a blaze of regret, broken promises, and political chaos.

Apr 15 11:02

Facebook Investors Want To ‘Check Zuckerberg’s Power,’ Oust Him From Company Chair

Facebook’s shareholders are gearing up for a fresh attempt to oust its founder and CEO Mark Zuckerberg as chairman, as well as shake up the company’s governance, in the wake of “severe controversies” for the social network.

Documents filed by Facebook to the Securities and Exchange Commission (SEC) on April 12 outline the schedule of business for the company’s annual shareholder meeting at the end of next month, and include eight shareholder proposals. One of these calls for replacing Zuckerberg as company chair with a new independent member, so as to clearly separate the roles of company chair and CEO.

In the filing, stockholders complain that Zuckerberg holds about 60 percent of Facebook’s voting shares, meaning the board has “only a limited ability to check Mr Zuckerberg’s power.”