A review of things you need to know before you sign off on Monday; more rate cuts & hikes, no rent growth, home loan rate strategies diverge, AT1 on way out, markets mark down ANZ transition, swaps stable, NZD on hold, & more

Better inside the tent than out...etc

There's a long list.

Don't quite know where to start.

The fact as a global species we still permit state sanctioned murder, and the existence of nuclear weapons leads me to think we haven't advanced one iota as an animal.

We're still the apex artificial intelligence.

The middle east is a gigantic powder keg, the West is on the brink of starting a nuclear war with Russia, two major economic powerhouses of the EU are in political limbo, the drums of fear are already being sounded for the next pandemic, and we're 3 months away from a major, unpredictable shake-up in the world's largest economy.

Hey look, a list of reasons why it's good to be in NZ.

I will happily overlook that we're not a bleeding edge post-industrial powerhouse.

The neocons are obviously worried about Trump.

All these things - missiles, land-mines, ASyrian 'rebels'- have happened since the outcome of the election was obvious (which was quite some time before it). They are cramming as much as they can, into the time they have left. Syrian oil, just like Iraqi oil and Libyan oil and pipeling-routes - the hegemony needs the energy, and need it's opposers not to have it. And fracking is temporary. 

Bonnydoon is still one of my favourites..just the vibe of the place..

Byron I rate and Noosa as well, but they don't have the pull of Queenstown and are much smaller. 

Fair comment. But what is the profile of those who want to go to Queenie? It seems to me that they relied to some degree on the winter ski holiday Aussies and the Chinese package tours. The Aussie numbers to the Japanese ski resorts have been declining. Rely on the repeat visitors - the lawyer and his family escaping the Aussie Xmas period.  

Have a mate who grew up in Mullumbimby near Byron Bay. Still a few salt-of-the-earth hippie and stoner types around apparently.  

The prices of hotels aren’t too bad here, but the quality and choice is atrocious.

AirBNB is crazy here though

Really depends how many there are of you. If you've got six people it can be cheaper sharing a house than all having hotel rooms.

Plus if you want somewhere in a natural location Airbnb usually has more interesting options.

Not really too interested in Hotels unless it's in the middle of a city for convenience. 

Since people say I am down on NZ, I would observe that, overall, the dining experience in NZ is better than Aus

Still seem to be a few people in denial as to how expensive NZ is

Japanese TV did a segment on Aussies paying 6x the price for a bowl of tempura udon in Hokkaido. It wasn't even a restaurant. It was a stand. 

Yeah, I travel a lot, so don't experience the extreme level of extra expense you keep talking about. Tank of gas varies about $10 here, maybe a couple of days groceries are $15 less there, meh. And totally negated by the extra value I can generate performing commerce with my own indigenous community.

The only places way cheaper, have commensurately lower wages to exclude them as a viable work relocation. Unless you're able to work remotely and earn a Western income there.

I went to Queenstown a coup-le of weekends back. Dinner out was around $38 for the meal but was a solid plate, and considering a speights alehouse will set you back $40+ for a steak and chips alone around the south island, it wasn't the worst for the money in a place like Q'town.

Well, I read the article report of the ruling (but not the actual ruling, mind) as:

1. BNZ is a business and allowed to choose who they do business with; and

2. Gloriavale hadn't been able to find another bank to do business with, indicating BNZ's position was not unusual.

As much as I don't want to see people de-banked for political reasons, or on a whim, I'm not sure I'm happy to see banks profit off businesses convicted of breaching child labour laws. How much liability does BNZ have towards these child slaves - for example were the profits of the children's labour going into their own accounts or someone else's, and how much was BNZ aware of that? Wasn't ANZ considered partly responsible for RAM when they overlooked an obvious ponzi?

As you say, there's a significant number of other businesses who probably should face the same fate - might even send a message to those likewise contemplating further exploitation of others?

An example of moral grounds?

https://www.newstalkzb.co.nz/lifestyle/kiwi-sex-toy-company-girls-get-o…

One could easily suggest that debt servitude for ones basic needs for shelter, for a home, is morally reprehensible.

Then there's the question of morals vs ethics.

Yes, hence my, do it consistently with all people and businesses that have a finding against them (if you're going to but really, I don't want such an 'essential service' of society rationed in this way).

I just think it's up to the court to issue the punishment, so not the banks job.  The exception is if the existence of the bank account is facilitating ongoing financial crime, but presumably GV will have changed their operation to be legal now.

Funnily enough, for the migrant exploitation cases it would be better to ban cash instead of bank accounts.  No refunds of wages at the ATM etc, every transaction via a bank or instant fine. 

I laughed at the liquor stores saying staff would miss work hours with the early closing - maybe a pay raise for the workers (same min pay through IRD to tick the box but less hours worked now).

So the means at which rent costs are determined are different than any other good or service?

Good to know.