Financial Armageddon!!

[Wayne]

With the current price, dairy will downsize regardless of what the environmental commissioner recommends.

Unfortunately in price maybe but not in quantity.
Since the payout is so low poor practices may increase to reduce costs.
Dairy must be about the dirtiest landuse around.

[Davo36]

Yeah dairying is dirty, just by the nature of it, but of course, most are pretty good and there's just a few bad buggers. Some guys let the whole farming community down and serially pollute waterways etc. for which they get fined pretty heavily actually - as well they should.

There must be a limit to the number of cows we can have in NZ, with existing technology - if some way of limiting nitrogen going into waterways comes along, then this might change (like the Green Revolution changed crop yields for instance) but until then, numbers need to be limited IMHO.

[eri]

By 2060

Japan’s population is projected to fall from 127m to about 87m,

of which almost 40% will be 65 or older



...

Tokyo is at the vanguard of demographic change.

Its wealth and excellent health care have created a “catastrophic success”: the world’s longest life expectancy.

Other countries will one day face similar challenges (some already are), and perhaps consider equally desperate solutions.

http://www.economist.com/news/asia/2...de-out-pasture

[eri]

grexit - stage left?

Greek banks shut - ATM limits imposed

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11472538

[eri]

$ down

gold down

share markets crashing all round

$40 billion wiped off oz share values

Greece is in the midst of arguably the worst economic crisis experienced by a developed country in modern times.

Its economy has shrunk by about a quarter in a depression that has so far lasted more than six years, while its unemployment rate is hovering above 25 per cent.

http://www.nzherald.co.nz/business/n...ectid=11472982

[eri]

As Greece closes banks, fear spreads of a eurozone implosion

...fears are mounting that the outcome could sink not just Greece but the euro and the idea of the European Union itself.

A Greek collapse could leave European leaders scrambling to prevent turmoil from spreading to other vulnerable Eurozone countries such as Italy and Portugal.

http://www.stuff.co.nz/world/europe/69813406/as-greece-closes-banks-fear-spreads-of-a-eurozone-implosion

[Perry]

Puerto Rico Joins the Freefall

Puerto Rico says it can't pay its $100 billion debt
29 June 2015

The governor of Puerto Rico has decided that the island cannot pay back its
more than US$70 billion (NZ$102b) in debt, setting up an unprecedented
financial crisis that could rock the municipal bond market and lead to higher
borrowing costs for governments across the United States.

[eri]

As extreme volatility plagues Chinese sharemarkets a top economist is warning that the cracks appearing within China's economy are of much greater concern for New Zealand than Greece's economic woes.

Almost US$1.25 trillion in value has been wiped off the Shanghai market since June 12.

Monetary easing and a downturn in China's property market had been pushing Chinese investors towards shares,

while margin trading - borrowing some of the cash required for a transaction from a broker - also helped fuel the market frenzy.

http://www.nzherald.co.nz/business/n...ectid=11473522

[speights boy]

Greece defaults - bailout expires

Thank God for that.

Let's hope this is just the start of no longer "kicking the can down the road"
Let the rout of the over indebted around the world begin.
Take the pain for a decade and then try to build a better financial base.

Unlikely however...we'll just end up delaying the inevitable by applying some band aids somewhere.

[Davo36]

They have no choice but to pay up.

If they leave the euro and go back to the drachma, it will be worthless - no one would accept payment on drachmas.

[Bluekiwi]

They have no choice but to pay up.

If they leave the euro and go back to the drachma, it will be worthless - no one would accept payment on drachmas.

They got no money to pay up.

Why doesnt China just buy it ?

Greece has no money, they should have to give up chunks of the country to the creditors.

Give Germany some land, hey they were never going to get any more as they kept losing all those world war's.

[eri]

best comment on the economist

was the greeks should shrink their borders and sell islands to their creditors

the germans, fins + dutch

would love to hoist their flags over warm little retirement islands in the aegean

[Wayne]

A few haircuts coming!
The best that can be hoped is that this finally pushes them reform their economy enough to be competative
they can't afford to repay the debt - ever I feel.

[speights boy]

Greece will never recover by retaining the Euro...it makes the country too expensive.

Print a 'New Drachma', devalue, make the country competitive.

They have been bankrupt for 5 years; you can never borrow your way out of debt.

Stop kicking the can; start the process next week.

[eri]

the greeks were the first with democracy

and the first to find out

that democratically elected leaders

eventually bankrupt the future

bribing the present

gov. need some form of

externally audited

compulsory

10? year book balancing