Hard News by Russell Brown

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Hard News: A revolting piece of shit

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  • BenWilson,

    I read Gio as meaning "large scale derivative exchanges didn't exist in NZ". The truth of that claim is somewhat dependent on what you count as a derivative. You have been able to take out a massive loan on a house for a long time, effectively magnifying your exposure to the risk/return ration of the property. And you could take out insurance to protect against a lot of things that could ruin the value of the investment, like a fire.

    Auckland • Since Nov 2006 • 10657 posts Report Reply

  • Rich of Observationz,

    large scale derivative exchanges didn't exist in NZ

    They still don't. NZX is a primarily an equities exchange.

    But yeah, it's probably true that if there had been more sophisticated markets in the 80's, there'd have been bigger fuckups in NZ. This time, the problems were either overseas or in the retail finance company business. The latter was largely ringfenced, mostly because as I pointed out at the time no banker in their right mind would lend the likes of Hanover Finance any money.

    (BTW, googling to NZX to check what derivatives they traded, I found this (D-NSFW). Nearly as funny as the period when 0800-REUTERS in the US got you a sex line).

    Back in Wellington • Since Nov 2006 • 5550 posts Report Reply

  • Jolisa,

    Iceland is empirically weirder than New Zealand.

    They have waaaaaaay better hotpools, but.

    Auckland, NZ • Since Nov 2006 • 1472 posts Report Reply

  • Sacha,

    and quite a bit of ice, I've heard

    Ak • Since May 2008 • 19745 posts Report Reply

  • chris,

    I haven't seen the video in question, but I'm interested as to how much of a thematic departure it is from Justice's 'Stress'.

    http://www.cluas.com/indie-music/Blogs/French_Letter/tabid/80/EntryId/620/Justice-violent-video-angers-France.aspx

    Mawkland • Since Jan 2010 • 1302 posts Report Reply

  • BenWilson,

    LOL it's a huge departure from a static image of a cross for 5 minutes, although I confess that did get me a little bit pissy.

    Auckland • Since Nov 2006 • 10657 posts Report Reply

  • chris,

    ha, sorry, I can't get on the youtube, assumed it'd link to the right one. Respect to your perseverance.

    Mawkland • Since Jan 2010 • 1302 posts Report Reply

  • Steve Parks,

    But that was exactly my point: the data is so inherently fungible that you can take it and prove entirely opposite (and equally well-made and sincere and socialist and/or feminist) cases with it.

    I think the burden of proof is on the person arguing for increasing criminalisation though.

    ... (e.g. NZ-style decriminalisation hasn't diminished the rate of child prostitution yet, but maybe we should give it another 7 years?).

    This point’s being covered by Russell, but I think it better to have laws focused on what is actually wrong (such as child prostitution).

    and to blog for money.

    Aw, bless. No, clearly we're the sort who'd do it even if we didn't get paid.

    Clearly. I’m sure Russell isn’t sharing the millions he must make off advertising with you. (I myself made 11 cents off Google adverts on my blog in three just three years! ... wait, it just clicked over to 12.)

    Interestingly my reasons for disliking Inglor-whatever ...

    Funnily enough, my main annoyance with Inglourious Basterds is actually the hassle of making sure I misspell the first word properly.

    ... I found the anti-German message very hard to stomach, probably through long association with Germans, who are just people. It hid behind "anti-Nazi", but there was not one single German character in it who was not a Nazi.

    Wasn’t one of the ‘Basterds’ a German who killed Nazis?

    Wellington • Since May 2007 • 1165 posts Report Reply

  • recordari,

    Bjork lingered enigmatically in the kitchen, devouring a large chocolate cake.

    Was it a birthday, and were they SMOKING cigars?

    AUCKLAND • Since Dec 2009 • 2607 posts Report Reply

  • BenWilson,

    I think the burden of proof is on the person arguing for increasing criminalisation though.

    I personally would like it to be so in this case, but as with all moral issues, this assumes a moral position all of it's own, the idea of the maximization of liberty. Plenty of people are not subscribers and never will be. I actually think a lot of socialists are like this, as plenty heaps of conservatives.

    Wasn’t one of the ‘Basterds’ a German who killed Nazis?

    Yes, he was especially ruthless and vicious. That was OK though because he did it when Brad Pitt told him to.

    Auckland • Since Nov 2006 • 10657 posts Report Reply

  • stephen walker,

    This time, the problems were either overseas or in the retail finance company business.

    the reason why nz is not (yet) in a similar position to Ireland or Iceland (or UK-land) is largely explained by "our" Aussie-owned banks' ability (so far) to continue surfing atop the Aussie property tsunami. quite risky behaviour, actually. sort of like those dodgy banks in Europe's "weirder" little corners...

    nagano • Since Nov 2006 • 646 posts Report Reply

  • giovanni tiso,

    the reason why nz is not (yet) in a similar position to Ireland or Iceland (or UK-land) is largely explained by "our" Aussie-owned banks' ability (so far) to continue surfing atop the Aussie property tsunami.

    I don't recall the specific report, but one of our ratings assessments after the subprime shit hit the fan listed amongst the country's strongest suits the fact that we didn't own "our" banks, hence their exposure to said flying excrements.

    In Iceland's case, the crushing debt that the citizens have to repay was incurred by the banking sector.

    Wellington • Since Jun 2007 • 7473 posts Report Reply

  • Keir Leslie,

    In Iceland's case, the crushing debt that the citizens have to repay was incurred by the banking sector.

    It was incurred by Iceland. Iceland wanted into Europe (esp. the UK) & to do that you have to promise that the banking system is backed by the state.

    Unfortunately that was a hugely stupid promise to make given that Iceland's banks were about as solid as an igloo next to a thermal vent, but then many nations make stupid business decisions. So yes it arose out of the banking sector, but only because the government agreed to take on that kind of debt if it ever arose. The government was quite free to refuse, and stay out of the system of European banking regulation.

    Since Jul 2008 • 1452 posts Report Reply

  • Kyle Matthews,

    In Iceland's case, the crushing debt that the citizens have to repay was incurred by the banking sector.

    In an article I read, it was every sector, though they'd incurred debt by moving into the banking sector. The article was quite incredulous about how hundreds of fishermen all owed millions of dollars.

    Since Nov 2006 • 6243 posts Report Reply

  • stephen walker,

    thousands of farmers owed millions of dollars

    hundreds of thousands of property-investors-but-not-for tax-purposes owed half a million dollars or more

    (if it has a pointy top, four corners on the bottom and is built on sand, it probably is a pyramid)

    nagano • Since Nov 2006 • 646 posts Report Reply

  • JackElder,

    Was it a birthday, and were they SMOKING cigars?

    Shot. Chapeau, man.

    Wellington • Since Mar 2008 • 709 posts Report Reply

  • Jeremy Eade,

    A father of teenage daughters withdraws all his usual (and safe) forms of physical warmth because said daughters have arrived at an age where they, for him, uncomfortably resemble the women in the porn that he is addicted to

    On a base level this man is worried about uncontrollable blood running into his nerve rod. This must be pretty solvable right.

    auckland • Since Mar 2008 • 1112 posts Report Reply

  • Steve Parks,

    I think the burden of proof is on the person arguing for increasing criminalisation though.

    I personally would like it to be so in this case, but as with all moral issues, this assumes a moral position all of it's own, the idea of the maximization of liberty. Plenty of people are not subscribers and never will be. I actually think a lot of socialists are like this, as plenty heaps of conservatives.

    First, it assumes the maximization of liberty only in the sense that by default you have liberty if no convincing reasons are given for any particular restriction. Laws aren’t there by default: if you want a law, make your case; if you want to restrict some behaviour, make your case.

    Secondly, note the “I think” that begins my statement. I’m saying it is my position (as it appears to be yours), and honestly, I suspect it is Jolisa’s too, in most circumstances. In other words, I doubt I really have to convince Jolisa of the importance of liberty. I could be wrong, but I don’t think I’m arguing with a moral conservative here.

    Wasn’t one of the ‘Basterds’ a German who killed Nazis?

    Yes, he was especially ruthless and vicious. That was OK though because he did it when Brad Pitt told him to.

    Actually, he did it before he met Pitt’s character. His Nazi killing is what attracted the ‘Basterds’ to him. He made a moral decision to be anti-Nazi without any intervention from the Americans.

    But I was mainly saying I suspected there was at least “one single German character in it who was not a Nazi” contra to your statement. I wasn’t meaning to be pedantic either. It just happens that I then had to rush out and could not even check if I was right, but it turns out I was.
    I have had a number of German acquaintances, and I like almost all of them. I’ve been to Germany twice and enjoyed it both times (the second in particular was one of my favourite times in my life). I like Germany, and German people, culture, and language. I was a tad disquieted by what seemed to be anti-German (as opposed to anti-Nazi) sentiments in another PAS thread not that long ago.

    But, having watched this movie twice, I’m fairly sure Tarantino made it clear enough that the subject of this revenge fantasy was Nazis, and not Germans in general. (If anything, my reservation is more that “wives of” were lumped in with Nazi high command.)

    Wellington • Since May 2007 • 1165 posts Report Reply

  • Jolisa,

    OMGWTF Geoffrey Palmer: my analogy with whaling was a joke!!

    Auckland, NZ • Since Nov 2006 • 1472 posts Report Reply

  • Sacha,

    It's always sad when you see someone like that lower themselves for no good reason. McCully is the dork pulling the strings but no one is forcing Palmer to debase himself.

    "Emotional" - you bet. Another embarrassment on the world stage. How's that change feeling, National voters?

    Ak • Since May 2008 • 19745 posts Report Reply

  • Sacha,

    Idiot/Savant is on a roll. About whaling and shame:

    The problem for National is that environmentalism is a fundamental part of our national identity. These moves strike at the heart of who we are as a nation (as does their new foreign policy of toadying to anyone who might give them an FTA at some unspecified time in the future). That's the sort of thing which causes governments to become oppositions. And the sooner it happens to this pack of spiteful orcs, the better.

    Ak • Since May 2008 • 19745 posts Report Reply

  • Simon Grigg,

    large scale derivative exchanges didn't exist in NZ

    Not true.. large scale derivatives trading did happen in in NZ in the 1980s, via the New Zealand Futures and Options Exchange which operated in the country from 1984-2003.

    And via offshore trading.

    And many's the old Eastern 'burbs family who were very badly scorched in the crash and burn of many of the brokerages, some quite scandalous at the time, at the end of the 80s.

    Just another klong... • Since Nov 2006 • 3284 posts Report Reply

  • Megan Wegan,

    Related to Media7 last night this is worth a listen - Germaine Greer, among others, on The Second Sex. Which oddly, it is the sixtieth anniversary of.

    Welly • Since Jul 2008 • 1275 posts Report Reply

  • Geoff Lealand,

    More on Iceland, from the weekly updates from The Word:

    ÓNSI
    The epic chorales of Sigur Rós are
    ong-standing Word favourites, so we
    are delighted to bring you this
    preview of the solo LP by their singer
    and co-architect Jón Thor Birgisson.
    Following Riceboy Sleeps, last year's
    chiefly instrumental album, Go is a
    big old blast of North Atlantic
    exhilaration and proof that, even if
    their economy has disappeared o
    vernight, Iceland's hardy populace are
    not letting it get them down.
    Contrasting with Sigur Rós's giant
    curtain walls of guitar (why has no
    one yet called it the "glacier of
    sound"?), Jónsi's solo album is a
    joyous toybox of a record. Brass,
    strings, oddball percussion, woodwind
    and piano are in full spate, chiefly
    arranged by Björk/Antony And The
    Johnsons collaborator Nico Mulhy. The
    cumulative effect is both of a piece
    with Sigur Rós's quasi-religious
    anthems and completely different from
    them. It's an explosion of pure
    delight and we think you'll like it.
    Pop fact: "lilikol" is Hawaiian for
    passionfruit.
    [ ]

    Screen & Media Studies, U… • Since Oct 2007 • 2562 posts Report Reply

  • Robbie Siataga,

    Back to the dirty session...

    Vids pretending to be a gangsta pimp is one thing to imitate but seriously, is anyone going to stalk and kill women cos sesh made a vid that depicts it ?

    Whatta joke! Hypocrites gettin twisted about a music vid when theres so much real shit going on that'll contribute to violence against women. How about gettin up on high jobless and low education young brown men who can't get the dole ?...yeah i wouldn't want to be their girfriends and mothers of their kids.

    MTC should have let the vid ride and come out swinging on the artistic freedom shit and holding a mirror up to society highlighting violence instead of pulling the pin on the vid. Defend his right to make artistic statements however he sees fit instead of hanging him out to dry with a weak apology.

    Its not as if rape crisis or anyone is gonna watch it or like it and no ones forcing them to unless it's to beat up a quote for the media. Neither would it have got mainstream play. It's like hardcore porn on the net. You know it's there and if you want to look for it, go for it but it's your choice and no amount of public condemnation is gonna get rid of that shit.

    It's a fine line between manipulating the media and getting manipulated. Well played Kirk Harding if the vid goes viral and sesh gets some real $hine for it but if not, then it's a long hard road back and some never make it cos usually, you only get one shot !

    And here's my favourite icelander. Hafdis Huld collabing with FC Kahuna. The 'machine says yes' vid was as good but couldn't find it.

    Since Feb 2010 • 259 posts Report Reply

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