By Amanda Morrall
1) Savings and Spending
Pass the margarine. Ever since taking a closer look at what it's made of, I've given edible oils a pass but exorbitant butter prices have me reconsidering my finicky palate. In both New Zealand and the United States butter prices shot to record highs this week; NZ$6,830.220 and US$4,900.
Sure, household saps aren't buying it by the tonne but we still cop it when it all gets sliced and diced in the free market. This New York Times article from 1917 shows how far prices have come and how they have historically been a sore point for both producers and consumers.
Any chance of Fonterra freezing butter prices? I wouldn't bet on it.
2) Credit and Debt
We have some unsung heroes here at interest.co.nz. One of them is the chap who diligently tracks and updates the rise and fall of interest rates all over the show. I'm guessing he has one of the leanest, meanest interest rates going for any debt he might be carrying - which is probably nil. He drew my attention this week to ASB's 50 basis point drop on its standard credit card which at 19.45% makes it one of the cheapest of its kind.
I so despise credit cards that I only have the kind restricted to actual funds in my account. But as there are occasions where real ones are unavoidable and sometimes useful, it pays to shop for those with the best rates and terms and the least amount of subterfuge when it comes to conditions. Our said good man kindly directed me to these useful websites by Canstar and Consumer Magazine.
And of course his handy work on this site speaks for itself. At the other end of the spectrum, high rollers for whom credit card interest is chump change could find themselves being wooed with points and other perks. Check out this story from the Globe&Mail in Canada on how credit cards company's are romancing the crowd for whom recession is a foreign word.
3) Home & Real estate
Real Estate Investment Trusts (REITs), a sweet spot in the portfolio three years ago, may have yet to recover from the financial crisis but some fund managers remain bullish on their outlook. Senior investment analyst Craig Brown at OnePath said despite being left in the dust by equities recently, strong underlying fundamentals will see REIT yields come right. They may not return to the buoyancy seen mid 2009 but those levels were unsustainable anyway reckons Brown.
"A lot of those trusts were paying dividend levels that were not fully supported by underlying earnings for a whole variety of reasons."
He said the sector was also hit by changes to depreciation for tax purposes which also had the effect of reducing cash dividends. Asked to assess the impact of the Christchurch earthquake, Brown was cautiously optimistic.
"With insurances these guys have in place there won’t be any short term impact on their current dividends, loss of rent will be covered by insurance. The caveat I’d put on that is that insurance doesn’t cover everything so there could be a bit of leakage." Time will tell.
4) Death & Taxes
Tax filings are never fun so if you want to spare yourself any unnecessary grief on time spent sorting and coding, you'll want to take note of the following. Procedural changes at Inland Revenue this tax year mean that anyone with untaxed revenue that needs declaring -- who also plans to claim tax deductions for donations, childcare or housekeeper -- needs to concurrently file IR3s and IR526.
I consider it a depressing sign of middle adulthood that I have become familiar with these codes at all but as they're in my best interest, and potentially yours, it may be worth noting. Whilst the sequencing of these forms was previously irrelevant some chaos at the tax department last year triggered the change.
The main point is that you need to file IR3s and IR526s at the same time. Given that they can both be negotiated online makes it slightly easier. Having neglected for several years tax deductions on charitable donations and school donations, I'm determined this year to claim my forsaken loot. Read up on the rules here.
5) Books & Film
I have to confess I haven't actually seen the Inside Job (Guardian review viewable on link) but given it won the Oscar for best documentary feature, and has received universally rave reviews, my endorsement isn't necessary. A colleague suggested it should be 'mandatory viewing.' In the same way that rabble rouser Michael Moore drew back the curtains on American politics in Farenheit 911, director Charles Ferguson delivers a blistering attack on the banking industry.
With fresh nightmares in my head of Michael Lewis' exposure of Wall Street's moral depravity in the 'The Big Short', I'm not sure I have the appetite for more of the same but I've never been one to reject medicine - even if it leaves a bad taste.
Here's a palate cleanser:
55 Comments
The dog in Libya has threatened to shoot down passenger aircraft if the UN attacks his airforce....he has murdered so many times before this threat is very real. It is a clear statement of intent. So where is the mighty US surgical strike....and what of the French and British...must we wait until the dog murders again?
"Receivers have taken control of a company owned by real estate "king" and multimillionaire Don Ha.
Timothy Davies and David Ruscoe of Grant Thornton have been appointed receivers for Don Ha Real Estate Ltd and taken over all the firm's properties and assets.
It is a blow to Mr Ha, who has become as well known for his love of horseracing as his real estate business and public speaking.
His fortune was estimated at $60 million by the National Business Review in 2007.
Mr Ha has won many real estate industry awards and the Weekend Herald understands his firm was named Ray White's Office of the Year on Wednesday last week.
However, on the company's website yesterday, the list of award winners had "Award withdrawn" under that category." herald
Haaaaarrrrrrrr hahahahaha
"Consumer confidence fell to a record low in February, surpassing levels seen during the recession, according to research by the Nationwide.".....bbc
"How can this be possible....so much effort has gone into producing the very best spin and BS...and consumers in the UK are losing confidence.....this is not good enough...we shall have to make sure consumer confidence numbers look much better"
"Quite so Sir Humphrey......what would you suggest?"
"Leave it to me Prime Minister....I can come up with whatever numbers are needed"
............................................................................
Down here at the bottom of the planet....we have the same situation....isn't that interesting....lots of BS and heaps of spin for two plus bloody years.....but consumer confidence is falling.....
There are only two options left.....tell the public outright lies.......or stop 'measuring' consumer confidence!
"... beyond the Japanese and Arab shocks, the process of US Federal debt market implosion in the second half of 2011 is accelerating under the effect of four other events:
. the introduction of budget austerity in the US which condemns US local authorities to a major crisis in the market for their debt ("Munis")
. impossible for the Fed to introduce QE3
. the inevitable rise in interest rates against a backdrop of global inflation
. the end of safe-haven status for the US currency."
http://www.marketoracle.co.uk/Article27004.html
" when the US Treasury Bond collapse begins, one cannot expect anything from Washington other than a colossal squawking that will only worsen the crisis.
As regards global inflation, we can already identity five channels by which the Japanese crisis will reinforce current inflationary pressures:
• the abrupt end to the policy of the expansion of the civil nuclear industry worldwide (14) will rapidly increase pressure on the price of oil (15), gas and coal
• the shortage of many vital electronic parts which will mean higher prices for electronic equipment (from computers to flat screen TVs (16)) because of power cuts that affect plants and transport disruption (17)
• increased pressure on world food and energy prices (18) due to a significant increase in Japanese food imports (especially rice) since the area affected is one of the country’s major agricultural regions (see map below)
• a further decline in the world economy following the global consequences of the near-halt of the Japanese economy, champion of both exports and "just-in-time" delivery (19), which will limit as much the "deflation" effect of globalized trade (20)
• and finally, a double phenomenon of a falling yen due to massive injections of liquidity by the Bank of Japan and the immediate increase in the worldwide "borrowing cost" of money (higher interest rates) because of Japan’s huge needs to carry out its reconstruction"
Hey Wally I don't know if you are a religious man at all, but this one has emerged from deep in my memory somewhere. If you look into the book of Daniel, Chapter 2:31-45 it talks about world empires that are permitted under mans governance, right up to the point where god steps in and takes the reins again. Interesting bit is the last empire doesn't pass until god steps in. A few folk about think the last empire is the Anglo/American one. There is some more about kings of the north and south, but I can't recall where those bits are.
On a secular level I still see the option for America to demand tribute for their military protection in keep in the world safe for democracy.Haha. They are the only empire to borrow the money to do this instead of tax, but they are the biggest and can change the rules. So I don't think they are done with yet.
A few troubles though that is for sure, question is who pays.
Of course none of this extends to keeping the currency, but worth keeping in mind.
Wolly....I agree the US is becoming a basket case, but despite the bad situation in the USA, everywhere else is as bad if not worse.....this is what market oracle fails to appreciate I feel, theses sites I usually feel only seem to look at the USA or the EU, most Americans / Europeans are the same IMHO, they only consider the US / EU important....inward looking....when in fact what matters outwards can be as big or bigger, NZers are really bad for that IMHO....
Like Ive said a while back, today it isnt about making money its minimaliding the risk of losses or actual losses....better in a NZ deposit account than just about anywhere else IMHO....risk free rate of return rules when you dont know what the risks are outside, and frankly I think few ppl do.
regards
Your risk free! NZ deposit account steven.... Govt Guaranteed?...oops no not with the banks any more and Bolly's obr changes mean pretty soon any bank failure in NZ will cost the shareholders and depositors their loot first..not taxpayers. Now this is prudent RB policy but it leaves the so called risk free deposits at risk of total losses while the owners of the covered bonds get to be saved.....
On top of that we have the Kiwi being debased at a steady alarming rate...12.6% since early 08. And the fx rate is falling fast.
Oh and let's remind ourselves of the S&P comments the other day...they expect to force up rates by cutting the rating because they expect the peasants to have to take on even more debt if Bill's promised changes are to work.
Wolly, its simple, its all about managing risk and impact....a bank deposit is the closest thing to a risk free rate of return there is. And I keep saying this and its seems you are deaf to the overall picture...this is a time of minimalising losses, everyone will lose, just the careful will lose the least......
Yes there is an implicit guarantee from the Govn behind bank deposits, more of a guarantee than anything else you can invest in right now IMHO. So pick your poison really, go for a risk free return that yes with inflation at 2% and paying tax at 33% odd means a 1% gain if you are lucky or go out there and take a risk. The problem I have is those risks are not known IMHO and I suspect they are expotential...
The banks are only allowed to take on 5 or 10% of first in dibs....and again there are worse things you could be in.
NZD being debased, URL pls? and in any event like Ive said its not so much about making money right now as not losing it by the fist full.
If you can point me at something better I will have a look at it.
Remember the NZI?/ANZ debacle that was supposed to be a very low risk and it wasnt as has been borne out. The risk want low and the impact huge....
However for savers I see good times ahead, I think dis-inflation and then deflation is coming to NZ's shores, sure some things will inflate in cost, but most things wont to compensate...savers will find their $ buys more overall.....some sectors though wont do as well Im sure....the pain is never evenly distributed.
regards
I have been offered the following...12.6% return..only half of which is taxed...that bit being a pretty certain return and the rest on capital gain....
Now I grant you that's not the same as cash in the bank getting 3% oncall...! and it requires a phonecall to sell any of the NZ equities involved and 24 hours to get the loot...
Is that "better"......and inflation is running 5%...not 2%
Wolly, the reason that deposits inregistered banks are deemed to closest to risk free investment is that not one depsositer has not hade their interest or capital paid out on the day it was due.
Except for Govt Stock it is the only asset class which can state such.
From what I read your 12.6% return (not sure if this net of fees and tax) is not guranteed and if is it what is the creditability of this guarantee.
Rightly or wrongly many people are more concerned with capital protection even if it means at present their purchasing power is being eroded by inflation (albeit part due to the one off spike due to GST increase).
Tell that bank loss story to Americans with more than 100K in a bank recently closed down. Ask yourself why Bollard is preparing the obr regs. Have a chat with anyone who had money in the PSIS at the end of the seventies! Granted it is not a bank but the impact was the same.
If you are happy with 2 to 3% oncall at a bank with inflation running 5% this year ...good for you...the banks must love you.
Of course people are concerned with capital protection...except the govt...but being taxed on a 3% return when inflation is at 5% means money in a low return bank deposit invites capital destruction.
It is true that equities are risky...Pike River proved that...as did Telecom and many others...but a spread of the best and a team involved in a 24hour market watch on your behave is worth the fees which are deductable.
PSI WAS NOT a registered bank but a co-operative so its not the same as a registered NZ Bank (so anyone having funds there should have known the risk like my parents who had money in there) and I don't give a toss about US banks as I don't deposit my money there.
The US Banking system has some fundamental differences to NZ such as the UDS100k Federal Guarantee (major one is that most lending in NZ remains on banks balance sheet, not packaged up into a parcel of shilte as you call it and sold off as an investment to someone who didn't know waht they were purchasing like the idiots at ANZ / ING).
If a NZ bank has a non-preforming loan it will need to deal with it.
I totally agree with you in regards to equities, having a portfolio spread across diffirent sectors, industries and countries to spread risk. You need to understand the risk and for those who can't pass the sleep test (lay at night worrying whether their investmenst have gone up or down) then Bank depsoits are the best for them (maybe with a mix of A rated corporate bonds)
PS was the 12.6% you menioned before or after tax and fees.
PSS also whether the banks love me or not has nothing to do with the inflation rate. They are concerned about margin manangement so they can make money to remain profitable.
I would prefer my deposits to be in aprofitable one than one making a loss!!!!!!!!!!!!!
Wolly, how about you stop whinning about how unfair life is, and get on with life within the contrains of what is and what will be.
For 30 years "we" have enjoyed raping the planet of fossil fuels and minerals and created a complex society that frankly is going to retreat, it cant stand lack of cheap energy and raw materials going forward, and it wont support 6.5billion ppl....
In that context complaing of losing a few $s is frankly stupidity....your "lifestyle" is going to go....the $s you lose to try and support it wont matter...
regards
"A controversial prediction of another big earthquake in Christchurch this weekend is causing families to leave the city in droves and has left children terrified." herald
This is good news for the govt!...no honestly it is....it tells JK and BE and the rest of the Cabinet that they have to put all of their effort into producing believable BS about "economic recovery"!.......... New Zealanders really are easy to lead up the garden path......
Of course the banks have known this for yonks....that's why so many are so deeply into debt securely chained to go on feeding the banks an endless supply of their income....fabulous business model...fully supported by the RBNZ and every govt regardless of colour.
The Govn has been saying "economic recovery" for 2 years....so I think I follow some others lead, this is the second peak oil crisis, seems another 1 or 2 will have to pass before finally it sinks in that there will be no "economic recovery" but there will be economic change and those who change first will be ahead....
regards
"VIENNA - Diplomats and UN officials are trying to dispel fears of a wider danger from radioactivity spewing from Japan's crippled nuclear reactors, saying there were no hazards to health outside of the immediate vicinity.
As emergency efforts to reduce the dangers of increased radiation from the crippled plant went into their eighth day, the UN nuclear agency described the situation for the second day in a row as worrying but stable." herald
Yeah right....and the day the wind starts to blow toward land!...last one out of Tokyo is a.......
This is a shocking event in japan and for the people involved....and sadly it exposes the awful truth about govts telling awful lies.
By now the demand for personal radiation detectors in japan will be huge. What measures can the govt and the IAEA take to make sure the detectors don't tell the truth !
UPDAT E:
"Japanese officials continue to try to reassure people that the radiation risk is virtually nil outside the 30-km (18-mile) exclusion zone around the plant.
But foreign governments are taking wider precautions - Spain has joined Britain, the US and other countries in organising the evacuation of any of their citizens who are concerned.
And panic has spread overseas, with shops in parts of the US being stripped of iodine pills, which can protect against radiation, and Asian airports scanning passengers from Japan for possible contamination" bbc
Here the wind flow in the next days:
http://www.meteoblue.com/japan/fukushima_japan.html
Often weather prophets telling us about the current spring jet stream not harming people – but winds nearer to the ground, where the radiation problem occurs are often more variable.
We are now on level 5, but the international community is still waiting with preparations for mass evacuation – probably until it is too late.
Liquidity traps, why interest rates wont take off...
and why fiscal responsibility will actually send us into a depression and send un-employment up...
http://krugman.blogs.nytimes.com/2011/03/18/liquidity-traps-once-again/
So before us we have an experiment....the PKers say interest rates/OCR etc wll stay low and core inflation will head to deflation....unemployemnt rises....rents stagnate or drop, houses drop.....
While the non-PKers / Austrians etc say uh cut cut cut and the pain is worth it? and interest rates/OCR will rise?, rents will rise....? houses go up?
I'd just like to be clear on what the future holds according to some....
I guess the Austrian point of view is well we didnt cut deeply enough (or at all) so its no wonder we ended up in a depression.....?
regards
I still get confused over this whole thing to Steven, but I guess I am not alone given all the different economists theories.
But I think you have to look at is as going back to basic supply and demand. The price of money goes up when there is a demand for it.
So going forward what do you see creating a demand for it? I can't see much on the horizon as the banks are not going to lend money to buy food or petrol, no matter how much they inflate.
I guess another simplistic way of looking at it is a depression is a contraction of the money supply.
I actually wonder if interest rates become irrelevant to a degree, because no one will be borrowing.
The thing is when in a liquidity trap the reverse of what seems "common sense" seems to happen....which has me scratching my head but which seems to being born out by actual experiment / happenings....so so far the theory is being proven in front of us.
What is interesting me is the likes of PKrugman who are basically out of favour becasue they are Old/New Keynesians seem to be ignored, yet their trackrecord so far seems very good, ditto Steve Keen....
Interesting that you are looking at the overall picture and I think that is what you have to do, ie money goes up when there is the demand overall. The biggest problem in the last 30 years is private debt has been ignored, so when Govns printed we had inflation, its was the agregate demand Public AND private that caused the inflation...today all we have left is Govn printing while private demand and consumpltion contracts at 3 to 10 times the Govn's stimulus amount..therefore overall there is less money, so I cant see how we get inflation we ahve to head into dis-inflation and deflation overall. Where we are seeing it is the banksters borrowing at low rates and speculating on food/oil commodities....take that away and our food bills wouldnt be going up I think. I wonder on the recent price drop on oil, Im assuming its speculators getting out....yet japan longer term will need a lot more oil if it doesnt rebuild its nuc plants.....it has no oil of its own.....so I think its hot money running....
For a liquidity trap / depression interest rates will stay low....the worry is what happens in extremis...NZ has huge private debt tied up in housing....if that implodes.....we all suffer, and thats what p*sses me off....ive been pretty careful and sensible....but I could end up paying the costs of the gamblers....
regards
No, I dont have a problem.....those blindly believing inflation is inevitable and soon and are mis-acting on that I think have a problem....they will spend money to protect themselves from something that isnt going to happen, that seems to me to be a waste.
regards
Clear about the future!....the recession is not worse because govt and RBNZ policies are to pump in the money and to keep credit cheap until the pips fly....ie until commodities inflation cannot be lied about any longer!( the cost is an expanding fiscal hole and a prolonged recession)
The aim being to allow moderate inflation to eat away at as much of the debt mountain as possible. That is the debasement of the Kiwi$. Now 12.6% since the start of 08.
Too late now to go all 'Austrian'....the spin and BS policies are all they have.
The fiscal hole will continue to open and the country will be downgraded forcing up rates leading to a deeper recession. The macro scene is only serving to make the latter more certain and to drive oil prices higher leading to inflation. QED you are entering into stagflation.
Filling in the fiscal hole to prevent the above playing out will mean causing the recession to deepen etc etc...all other things will be the same.
The key difference.....one option allows govt and RBNZ to blame others....!
Unemployment in the usa remains bad...govt dept misinformation is strong...are we any different....no! http://globaleconomicanalysis.blogspot.com/
#1
Well Amanda I eat a lot of yoghurt and source my milk directly from the farm at $1.20 per litre. Because I eat so much I don't want all the fat, so I skim it and make my own butter:) I can then use for cooking or give some away. Unpasteurised, or unadulterated in general = much nicer.
Haven't sussed out making cheese yet, but that is on the to do list.
Wow, that's impressive! I've had ambitions to make Ghee but never materialized. I just shell out for butter and eating sparingly, as one should. Anyway, I'll take your left-overs, or pay for them. And when you get around to making cheese, I'll trade you for homemade bagels (Montreal style!):)
Sam Stubbs (Tower Investments) wins the monthly prize for the best bullshit............
"Residential property affordability has improved thanks to cheaper mortgage rates. The current situation offers a chance to get a foothold on the property ladder and has reduced downside risk from further housing-market decline for homeowners." herald.
Take a bow Stubbs.............tower investments...hahahahaaaaaaaaaarrrrr
Stubbs should join the bank economists and Ken Ring in the loony bin.
He talks up the housing market in wake of the Ch Ch rebuild, acknowledges the looming inflationary pressures, then fails to acknowledge likely sharp OCR rises next year will counter any potential property rises arising from construction-related inflation
Does anyone pay attention to him/them? I hope not and that ppl start the process of understanding and learning for themselves...
OCR rises while possible wont be big, I think max 4%. I dont think sharp and far, not many ppl see that high either..the RBNZ doesnt in the next few years....I think we could run through stagflation at best for years....what countries have risen OCR in that circumstance? cant think of one......
regards
The question is.....are we being lead up a radioactive garden path by the media reporting what the IAEA and the Japanese govt are saying is going on. Already experts have been dragged into US media stations to promise those in Hawaii that they have nothing to be worried about. When the wind direction turns to be a nor easter down the east coast of Honshu, what will those in Tokyo be told?
In the middle east the dog's friends have tried to make matters worse by firing rockets into Israel. Obama has no idea what to do about the Yemen...a really democratic nation...not.
The Saudi Kingdom looking down the road to ruin. Expect Pootin to be stirring the revolution because Russian oil exports reap billions on higher prices.
The dog in Libya is now claiming he has been protecting civilians all along....I think the culture there has got the 'govt' it deserves and I expect the replacement dog to be no better.
I have no doubt Pootin and his mob are stirring the pot. They will make hundreds of billions from a middle east oil supply problem.
Friday Humour.....on Sunday. Not that funny...we have our own matched set of idiots....equally dumb, which is more of a joke. I guess these must be true or the writer would have been afraid to use real names.
A DC airport ticket agent offers some examples of 'why' the USA is in
trouble:
1. I had a New Hampshire Congresswoman (Carol Shea-Porter) ask for an aisle seat so that her hair wouldn't get messed up by being near the window. (On an airplane!)
2. I got a call from a Kansas Congressman's (Moore) staffer (Howard Bauleke), who wanted to go to Capetown. I started to explain the length of the flight and the passport information, and then he interrupted me with, ''I'm not trying to make you look stupid, but Capetown is in Massachusetts ..''
Without trying to make him look stupid, I calmly explained, ''Cape Cod is in Massachusetts , Capetown is in Africa ''
his response -- click.
3. A senior Vermont Congressman (Bernie Sanders) called, furious about a Florida package we did. I asked what was wrong with the vacation in Orlando . He said he was expecting an ocean-view room. I tried t o explain that's not possible, since Orlando is in the middle of the state.
He replied, 'don't lie to me, I looked on the map and Florida is a very thin state!'' (OMG)
4. I got a call from a lawmaker's wife (Landra Reid) who asked, ''Is it possible to see England from Canada ?''
I said, ''No.''
She said, ''But they look so close on the map.'' (OMG, again!)
5. An aide for a cabinet member(Janet Napolitano) once called and asked if he could rent a car in Dallas . I pulled up the reservation and noticed he had only a 1-hour layover in Dallas . When I asked him why he wanted to rent a car, he said, ''I heard Dallas was a big airport, and we will need a car to drive between gates to save time.'' (Aghhhh)
6. An Illinois Congresswoman (Jan Schakowsky) called last week. She needed to know how it was possible that her flight from Detroit left at 8:30 a.m., and got to Chicago at 8:33 a.m.
I explained that Michigan was an hour ahead of Illinois , but she couldn't understand the concept of time zones. Finally, I told her the plane went fast, and she bought that.
7. A New York lawmaker, (Jerrold Nadler) called and asked, ''Do airlines put your physical description on your bag so they know whose luggage belongs to whom?'' I said, 'No, why do you ask?'
He replied, ''Well, when I checked in with the airline, they put a tag on my luggage that said (FAT), and I'm overweight. I think that's very rude!''
After putting him on hold for a minute, while I looked into it. (I was dying laughing). I came back and explained the city code for Fresno , Ca. is (FAT
- Fresno Air Terminal), and the airline was just putting a destination tag on his luggage.
8. A Senator John Kerry aide (Lindsay Ross) called to inquire about a trip package to Hawaii . After going over all the cost info, she asked, ''Would it be cheaper to fly to California and then take the train to Hawaii ?''
9. I just got off the phone with a freshman Congressman, Bobby Bright (D) from Ala who asked, ''How do I know which plane to get on?''
I asked him what exactly he meant, to which he replied, ''I was told my flight number is 823, but none of these planes have numbers on them.''
10. Senator Dianne Feinstein (D) called and said, ''I need to fly to Pepsi-Cola , Florida . Do I have to get on one of those little computer planes?''
I asked if she meant fly to Pensacola , FL on a commuter plane.
She said, ''Yeah, whatever, smarty!''
11. Mary Landrieu (D) La. Senator called and had a question about the documents she needed in order to fly to China . After a lengthy discussion about passports, I reminded her that she needed a visa. 'Oh, no I don't. I've been to China many times and never had to have one of those.''
I double checked and sure enough, her stay required a visa. When I told her this she said, ''Look, I've been to China four times and every time they have accepted my American Express!''
12. A New Jersey Congressman (John Adler) called to make reservations, ''I want to go from Chicago to Rhino, New York .''
I was at a loss for words. Finally, I said, ''Are you sure that's the name of the town?''
'Yes, what flights do you have?'' replied the man.
After some searching, I came back with, ''I'm sorry, sir, I've looked up every airport code in the country and can't find a rhino anywhere."
''The man retorted, ''Oh, don't be silly! Everyone knows where it is. Check your map!''So I scoured a map of the state of New York and finally offered, ''You don't mean Buffalo , do you?''
The reply? ''Whatever! I knew it was a big animal.''
Now you know why the American Government is in the shape that it's in!
Could anyone be this DUMB?
YES, THEY WALK AMONG US, ARE IN POLITICS, AND THEY CONTINUE TO BREED..
Or...the CNBC women presenter, the other night ( Erin Burnett?) who, during an interview with someone or other asked with naïve sincerity, "But how can the Japanese nuclear problem affect us? I mean, it's not like it's in America or anything..". Even the guy she was talking to, just looked at her, and blinked!
And more Sunday funnies from the Sydney Morning Herald.... "LOW income earners will be the biggest winners from a Gillard government compensation scheme to offset cost of living pressures from a tax on big carbon polluters.
Generous tax breaks may be offered to low-income families and pensioners while middle-class income earners would also be compensated to soften the blow of rising household bills and living costs associated with the proposed carbon tax."....doh
I guess the cost of the tax breaks etc will be covered by a rise in taxes on the 'filthy rich'....trust an idiot labour govt to meddle itself into such a mess.
Ken Ring you low-life scare-mongering pond dwelling scum-sucker ......... Where's the " Mother-of-all " 'quakes you predicted ? ....... It's past noon , and I sat there waiting , with me plate of ham-on-rye sarnies , expecting a sight to behold . ...
.... Nada ! Zip . Zilch .
Me friends wasted alotta petrol , heading down to Tekapo , to be safe ( told them prior , that's insane ! ....A 'quake is easier to take , than a day in Tekapo , brrrrrrr ....) .....
.... Come around here Kenny-boy , and you'll get a size 10 Gummy boot up yer ring !
Love & Peace .
...... Gotta laugh that those folks got 3 quakes above 4.0 over at Twizel ....... And then drove back to Chch , to get a 5.1 aftershock just before beddy-byes !
No 8.0 quake , Ring ! ... You predicted a big one of a magnitude above the Sept. 4 shake . Us septics were right , you were wrong .
...... And now the media won't trot you out and waste any more time on your prognostications ........ Yeah , right !
hope those dams are well built---click on the 6 hr tab---4.6---4.3---4.3 between 1 pm and 1.35 ---tekapo might not bo a good place to be
The father of the fellow who developed the Chch quake map , told me yesterday that the lad has also constructed a Japanese one now .... I havn't tried to get it ...
www.japanquakemap.com : See if that works .
this geologist is having a punt each way --as you do
http://www.stuff.co.nz/timaru-herald/news/4789371/Earthquakes-rock-Twizel
If there's nothing on the telly...
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