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  1. First time first, I’m sitting on my veranda with cold San Miguel thinking how fckn good the beer is and how happy to be away from that socialists little shit hole.
    Nothing in the news, nothing in the papers. It’s almost as if the shithole don’t exist.

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  2. Jack ,you’re gonna have to tell us which little socialist shithole you’re glad to be away from, since late 2019 many former free 1st world Countrys have become socialist shitholes whilst their cowardly peoples scurried around wearing masks and lined up for numerous snake bite therapy’s all the while with looks of terror in their eyes.
    Some shithole leaders even took advantage of the situation to take away the peoples freedoms and divide their Country by the color of the peoples skin.

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  3. Good grief , Zelensky is reporting that the Russians are building concentration camps for the purpose of torturing and killing innocent Ukrainian civilians, whoever’s supplying the dwarfs drugs can I get a contact number ??

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  4. Are we tangling up 3 waters which uses the New Zealand perspective to lever this in this global water plan.

    … Berlin …. April 23, 2022 …. “Water Master Plan” …..
    Initially, the limitations only applied to newcomers to the region; for them, water consumption in newly built houses is limited to 105 liters per person per day.
    If the quota is exceeded, fines are automatically due. But from 2025, this rule will be extended to all residents of the catchment area.

    Since the previous statistical daily consumption in the affected region is 175 liters per person – and the national average is at least 126 liters –
    this rationing means a considerable restriction. ….
    ….. “You decide: climate protection begins at your tap,”….

    https://freewestmedia.com/2022/04/23/berlin-municipality-to-ration-drinking-water/

    Just google, and you will find it here in NZ. “Water Master Plan” and seems as insidious as the global “Agenda 21” that flows through to “Agenda 30” that are being taken on board by local & regional councils in NZ, as well as world wide.

    Sure I follow user pays, and the true costs of water should be charged, but this appears as a more of a control mechanism, and auto fines, linked to your bank account or income deduction.

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    • Already happened in parts of the states (cali?) Where residents need to choose between doing laundry or showering as the daily water limit dosent allow for both!
      Ben shapiro covered it at one stage and pointed out how bad it was with all the human turds on the sidewalk and homeless throwing it at passerbys like monkeys that should you be an unfortunate victim youd have to choose to either shower or wash your turd covered clothes

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    • And similar fines for excess water usage, in a land of abundant water, when instituted in NZ will link your Bank Account directly to Tainui’s or Tuwharetoa’s Bank Account. Their choice.

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        • Rachael@0804

          As in ZIm and SA, there will no doubt be local ‘Acommodations’ to cover such matters and allow them ti continue although, because they are so good at such things, the Chinese might be inclined to play hardball when first approached for a ‘Contribution’ to tribal funds.

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      • Giving free money to people wrecks them in the long run.
        This racist policy of harming Maori by giving them free stuff and depriving them of opportunities to create innovative businesses that can compete in a free market* must be ended.

        *ignoring Health & Safety and other zoning and compliance regulations

        //

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    • Simpleton 1
      Ardern has put us so deeply into this crap that any change of government will make no difference whatsoever, FFS look over at the opposition and weep if you expect that bunch of cowardly shitbags to break away from the Schwab ,UN,globalization agenda that’s happening before our eyes.

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      • revtech120 : Exactly.
        Removing the 3 waters is really a phweeww we missed that one, while not figuring the real controlling global agenda.
        A bait of “3 waters co-governance” and how we are all saved, so vote them, while being switched to the global “agenda” “Water Master Plan”.
        The Parliament will all implement implement the “global WEF-UN plans” and trade off New Zealand sovereignty.

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      • RT, you are so right. The opposition parties to Ardern, her Maori Caucus and this Government are just limp wristed and weak.

        Where is their spine?

        People are looking for a bit of mongrel to combat the Maorification and Globalisation agenda spreading through this country and they are just not seeing it.

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  5. Now this will be fun to see. We know the scot are a cazy but this won’t be pretty.

    First full-size driverless bus trials to begin in Scotland

    The UK’s first full-sized driverless buses will begin trials in Scotland this week with a view to having passengers on board later this summer.

    Road testing of the autonomous single-decker vehicles gets under way on a 14-mile route between Edinburgh and Fife.

    The two-week trial, on a route that crosses the Forth Road Bridge, is the latest in a series held in the UK.

    https://www.bbc.com/news/uk-scotland-edinburgh-east-fife-61216302

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    • Interesting comments by Nunes about the market. I am not really into social media so I do not understand it at all but Nunes says the market is with Instagram and Ticktok. So Twitter, a $40+ billion company is not considered a leader in the market —interesting. (I am not doubting what Nunes is saying.)

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  6. He is 85 and insists on taking his wife’s hand everywhere they go. When he was asked why his wife kept looking away, he responded, “because she has Alzheimer’s”.
    Then he was ask, will your wife worry if you let her go?
    He then replied, ′′she doesn’t remember anything, she doesn’t know who I am anymore, she hasn’t recognized me for years.”
    Surprised, I said, “and you have continued to guide her every single day even though she doesn’t recognize you?”
    The elderly man smiled and looked into my eyes and said, ′′she may not know who I am, but I know who she is, and she is the love of my life”.

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  7. No answer on how we will pay our bills but Robbo has plenty to spend in the budget

    Grant Robertson says Budget 2022 will focus on health system reset, rules out tax cuts
    https://www.newshub.co.nz/home/politics/2022/04/grant-robertson-says-budget-2022-will-focus-on-health-system-reset-rules-out-tax-cuts.html

    “Making sure that we’ve got a focus on those long term issues that will help New Zealand’s economy grow, getting on top of climate change and making sure we do the basics right. We are very well aware of the pressure on households.”

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  8. Must be warming up a bit in Canada? 🇨🇦
    Riding on the highway to hell?

    Apr 23rd 2022 : Estimated approx. 8,000 bikers convoy expected in Ottawa next weekend. Rolling Thunder in the cause of freedom.
    https://twitter.com/VictorGreenPPC/status/1517604151022260225

    So the authorities react,
    Lawful protests are “protected”, unlawful protests are “against the law” …
    Are the goalposts still on the field?
    but I doubt their will be any honking, but …. 🙂

    So, bikers will be rolling all over the city, not parked safely in front of Parliament Hill?
    That should make everyone happy.
    Genius.

    Live From The Shed @livewiththeshed
    Notice From Ottawa Police, Banning All Bikes And Other Vehicles #RollingThunderOttawa #RollingThunder #freedomconvoy #freedom #Ottawa #Canada

    https://twitter.com/RealAndyLeeShow/status/1518356957400211457

    Was there a back down from that Police release?

    I think all the bikers will know where the Party is. 🙂 courtesy of :—-
    https://rollingthunderottawa.com/
    Further links there to what is happening.
    It all seems to be action this coming weekend, end of April.
    Will the police shut down all of Ottawa to vehicular based protests.
    Has the mayor and police over reached?
    🇨🇦
    Sounds like other groups are reaching out in back up support. 🙂 🇨🇦 🇨🇦

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    • Cold Kiwi, Waiouru 🇳🇿
      Brass Monkey Otago 🇳🇿
      Onward to Wellington 🏁 🇳🇿 🏁

      “First they came for the truckers,
      then the Protesters @ Wellington
      then they came for anyone who supported the truckers,
      then they came for the bikers,
      then they came for the vets,
      then they came for other groups one by one,
      then they realized they were alone with no power left. 🏁 “

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  9. A man returns from safari and tells his friend about a narrow escape he had.

    ‘I was by the water hole when a lion jumped out at me, so I ran for the tents. It had just about caught up with me when it slipped and I managed to vault over a log. The lion jumped over the log too, but then it slipped and landed on its back. By that time I was almost at the tents and I could see the safari guide with his gun, so I called out and he took aim. But he couldn’t fire because the lion was only a few feet behind me. It bounded up at me, then it slipped again, and I had just enough time to duck in the camp before the guide shot it.’

    ‘Bloody hell,’ says the friend. ‘If that had happened to me, I’d have crapped myself.’

    ‘I did’ replies the man. ‘Why do you think the lion kept slipping.’

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  10. Shit-oh-dear; even Commie Dann is holding Robbo’s feet to the fire. Robbo trying to defend Willie Jackson’s “democracy in NZ has changed” comments.
    Also Tamati Coffee has brought Labour’s co-governance ideology to life with the Rotorua council bill. Subsequently voted for by Robbo and the rest of them in first-reading. Before Parker, as Attorney General, realised what a cluster it was turning out to be, and was forced to ice it. Now Robbo’s back-pedaling and trying to come out on the right side of all this.

    Rotorua Māori seats legislation has ‘serious issues’ – Robertson

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    • What a lying faggot that prick would be. Saying the bill passed it’s first reading because ” that’s what the council wanted” is complete bullshit. It passed because these wankers thought they would get away with it. They thought they would use their majority to shove it through and nobody would notice, unfortunately for them and due to their arrogance the whole thing is blowing up in their faces. The emperor is running out of clothes at a high speed here. Couldn’t happen to a nicer bunch of would be tyrants. I notice Cindy is conveniently out of the picture while this debacle is going down. FJA.

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        • The one thing that Cindy would be feeling happy about at the moment is the obese poo fingered bum bandit makes her look like a class act. Not much chance of a takeover bid while she’s swanning around the states. Robbo couldn’t wait to call a press conference as air horse one was lifting off for Singapore. Next trip he will still be trying to hide his smug face from the media.

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  11. https://currencycentralinc.com/us-dollar-defaults-on-petro-dollar-and-ru-banking-obligations/

    For the first time since 1971 the US has defaulted on it’s banking obligations and the Petro Dollar system marking ‘peak Dollar.’ While only a handful of public figures have a handle on the situation, we are concerned that the White House is spreading dangerous misinformation on how Currency Markets work so we’d like to explain key points on the nuts and bolts of the soft default and what it means for the future of global currency markets…..
    Why destroy your own currency? Profits!
    We should all ask ourselves why would policy makers want to ruin their own currency. There’s no short answer to this but in one word it’s: Profit. This is the Economic Hit Man / Soros model being applied on the country that created it. The Dulles Brothers, Kermit Roosevelt, and William Stephenson (Intrepid) created an economic model of Imperialism mixed with Merchant Capitalism (Gunboat Monopoly) right as the Brits passed the torch to the Muricans. The Yanks get the credit but we all know who is still pulling the strings from London – the same group that controls the Gold market and half of the world’s finances.

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  12. Old World.

    Nemi ships are the first ever luxury cruise ships built by a debauch Roman emperor, Caligula, in 1st century AD.

    The front portion of the ships (barges) was studded with jewels. Doors and windows were made of bronze. Ball bearing of lead was used to minimise friction in furniture and fixtures. The floor was made of glass and marble. Symmetrically arranged bronze sculptures and upholstery of precious metal gave royal ambience to the living space. Hot and cold water ran through the lead pipes inscribed with the emperor’s full name, Gaius Caesar Augustus Germanicus. Piston pumps ensured the flow of water in pipes. Hot water was used for bath and cold for drinking and running of fountains.

    https://www.ststworld.com/nemi-ships/

    https://external-content.duckduckgo.com/iu/?u=https%3A%2F%2Fexternal-preview.redd.it%2FR7hVnSZy3iqdNUMVVViR5N-J2XAfOafvYN6ERTlDTDw.jpg%3Fwidth%3D600%26height%3D300%26auto%3Dwebp%26s%3D42177e1502e644dc248f508c663f0cc314318ce0&f=1&nofb=1

    https://external-content.duckduckgo.com/iu/?u=https%3A%2F%2Fupload.wikimedia.org%2Fwikipedia%2Fcommons%2Fthumb%2Ff%2Ffd%2FNemi_Ship_by_CM_Knight-Smith_1906.jpg%2F440px-Nemi_Ship_by_CM_Knight-Smith_1906.jpg&f=1&nofb=1

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  13. Reflection of school education standards.

    “Teenagers who don’t know how many minutes are in an hour or when to use full stops could soon fail NCEA.
    A test run of tougher literacy and numeracy standards, to come into effect next year, revealed many students are making basic errors.
    Last year’s trial asked students if taro is seven dollars a kilo, how much is 510 grams? If it takes an hour to walk four kilometres, how accurate is a friend’s estimate that a 3.6 kilometre track will take 25 minutes?
    These Year 13 students attempted some of the questions and while they do know there are 60 minutes in an hour, they understand how some might get that wrong.”
    FJA

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  14. Winston Peters
    @winstonpeters

    There are numerous racist policies being pursued by this govt and one has just been caught out by the Attorney General reporting it does not comply with the Bill of Rights.

    Typically Willie Jackson has blamed the Rotorua Council for this mistake – but it was the Labour caucus who backed and approved this piece of legislation.

    It’s the over ten thousand submissions from ordinary kiwis along with the Attorney General that have made the govt check themselves in this process of them running roughshod over our democracy.

    This type of separatist policy won’t be the last & the push will only intensify – this race-based agenda being forced on kiwis by govt will be relentless. We must not stand by & risk losing the very foundation of our democracy – one person, one vote, one flag, one law for all.

    https://twitter.com/winstonpeters/status/1518730138585759745

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    • Braybots, you said in your 12.05 post,

      “Typically Willie Jackson has blamed the Rotorua Council for this mistake”

      Well just shows what a lying prick, the Scotsman, William Jackson is, because it was his Labour List MP and fellow racist, Tamati Coffey who pushed and promoted this Bill into Parliament and it was the Scottish William Jackson’s List MP and fellow racist, Tamati Coffey who is Chairman of the Select Committee hearing this passage of this Bill through Parliament.

      It may well have been the Rotorua City Council, their ex Labour Cabinet Minister and the sheila with a mans name, Steve Chadwick who is a conduit for this, but William Jackson, the half Scotsman is a lying arsehole, for he, Labour and Tamati Coffey are balls deep in this.

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  15. The govt/media inflation stats dont add up and fuckery is involved by using pre tax gross household income not post tax income
    “Average households are exoeriencing $150 per week increase in cost of living”
    Inflation 6.9%…

    NZ average household income AFTER tax =88,648(year ended june 2021 figures) @ 150 per week i get a figure just shy of 8.8%
    Now unless robbos gunna announce the abolishing of income tax theres a whole bunch of lies getting told as per usual.

    $150 per week roughly works out to 6.9% of average household gross pre tax income income… lets not pay tax to keep their phoney inflation expenses accurate//

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  16. Stop complaining’: millionaire property investor defends plan to buy 1000 homes

    A Sydney-based real estate investor who owns 42 homes and has set his sights on acquiring 1000 properties has revealed that he doubts he and other investors have had a marked impact in driving up home prices.

    Eddie Dilleen has been one of the country’s most prolific purchasers in recent years, snapping up more than 20 properties in the past two years alone.

    https://www.realestate.com.au/news/stop-complaining-millionaire-property-investor-defends-plan-to-buy-1000-homes/?rsf=syn%3Anews%3Anca%3Acm%3Asocref

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      • Phil, Phil, Phil, how can you say that. David Parker is the most upright and honest citizen around. Who else do you know that would run away with his crippled and wheelchair bound and best mates wife?

        Aaah, aaahh, uuummm, ooohh, this Minister of the Crown, the Revenue Minister did jus that.

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    • Setting up a separate department? Why keep the income information from IRD who already has the tax information direct from the client or their accountant. Sounds like a deep jealousy based reaming is coming the way of those who earn more than the socialist ministers of the Crown. 😮‍💨

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  17. These pricks are looking to make every one suffer by turning this beyond submissions to Court cases.

    ….. “All Aboard Aotearoa” will argue that the 2021 Regional Land Transport Plan setting out investments for Auckland’s transport system for the next decade will increase emissions by six percent by 2031.

    They claim Auckland Transport and the council acted unlawfully because the plan does not meet their obligations to rapidly transition to a low carbon transport system. …..
    https://www.rnz.co.nz/news/national/465915/court-action-over-auckland-transport-plan-s-predicted-emissions

    Stasi versions of this are looking to put in various versions of costly carbon emission “lock-downs” to a slow down to public transport, walk or cycle on all local district & regional councils.
    By a “Cloward and Piven” process to overwhelming the system.

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  18. Looks like the Americans are learning a bit about how some of us feel about Ardern.

    Look at the comments on this thread about the response Psaki gave to a question on whether the Biden admin felt any responsibility for the recent death of the national guardsman working on the border.

    https://theconservativetreehouse.com/blog/2022/04/25/jen-psaki-asked-if-white-house-feels-any-responsibility-for-border-death-of-national-guardsman-bishop-evans-responds-well-he-wasnt-working-for-us/comment-page-1/#comments

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  19. Foodstuffs, organisations partner to open social pātaka supermarket in Kaitaia
    https://www.newshub.co.nz/home/new-zealand/2022/04/foodstuffs-organisations-partner-to-open-social-p-taka-supermarket-in-kaitaia.html

    Foodstuffs are working with Te Kahu Oranga Whānau, a collective of Māori organisations including Tuhiata Mahi Ora, Te Rūnanga o te Rarawa, Te Whare Ruruhau O Meri and the Waitomo Papakāinga Development Trust, to help make access to fruit and vegetables a whole lot easier.

    “What we’re hoping to achieve is offer a space that is bilingual and that promotes an experience of a supermarket that our whānau feel dignified when they’re going through and selecting their items of need,” she told host Ryan Bridge.

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      • Nothing changes until the boss bouses fall off, then competition for bonuses will get them off their lazy arses.
        norma part of the cycle.
        Remember that banks make money by lending money, not you eftpos card.

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    • Kea my mate is pretty good with numbers and knows his shit when it comes to economics.
      He predicts house prices are where they need to be to compensate for the realistic inflation thats on its way and todays prices are just 3 or 4 years early, he predicts theyll stagnate until the inflation eases… rekons for the amount of $$$$ these clowns have pumped into the economy with little thought will take 60-70% cumulative inflation to compensate… thats 5 or 6 years at current rate or an extreme peak with an inflation graph looking like our last 3 months covid stats!

      Either way these political muppets that spurt our inflation is just “transitory” or short term are absolutely bullshitting, cindy and robbo overspent majorly and blew it on nothing so we are gunna pay for it big time in over the next few years.
      The only way they can slow/ease it is to print more money but that just makes the overall problem worse and prolonged.

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            • Trying to educate this blog’s landlords & their sympathisers is the equivalent of nailing jelly to a wall Kea.

              Unless you’re a parasite betting everything on continued housing shortages & the resultant capital gains the price of a house doesn’t matter unless you’re looking to sell up & go live under a bridge.

              Or if you are half of a relationship trying to buy a home in which to raise the next generation of educated citizens & taxpayers.

              In which case you might as well give up on beating the landlording scum bidding against you & go piss against a Norwester!

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        • Price is a result of supply and demand. If there is no demand prices will fall simple as that, though this may be mitigated to some extent if there are not too many forced sellers.
          Harder to work out what demand is at present, rising interest rates, cautious lending policies and job losses all point to falling demand. There may be some demand from immigration and returning kiwis once the covid bs runs it’s course. Time will tell.

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          • The supply /demand forces have nothing to do with it. Our house prices were determined by government policy. Regulations + money printing = increased prices. There is now a shortage of money. Not houses.

            The bullshit about the “ great home coming “ is Party propaganda. It hasn’t happened and people are leaving in droves. They are panicking and now are desperately trying to flood the country with low paid workers from developing countries.

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            • Supply vs demand always has an effect. It could be that government policy has been a driver of demand but ultimately regardless of the underlying causes it is still a supply and demand issue. In terms of the “great homecoming” you may be right. As I said time will tell.

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            • Theres not a money shortage kea, theyre still blowing heaps its just been redirected away from dodgy mortages.
              NZ being a hermit kingdom for so long sheltered us from it at the start by delaying the onslaught of price rises and hens coming home to roost. We are realisticaly 6-12 months behind the rest of the world… i expect nz will eventually end up worst inflation in the OECD, most other countries will recover well before us but nz and usa overspent in the name of covid far far worse then the rest of the world.

              If you owe the bank or finance companies a shitload then you should have a steady stream of sweat dripping by now. Most mortage holders should be able to weather high interest for a year or so… but 3, 4, 5 years?
              Thats when youll really see the wheels fall off kea, youre just a premature ejaculator and come to early again mate. What youre getting excited about right now is just economic flirting, the foreplay hasnt even started yet and the complete fucking is still at least a year or 2 off.

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    • Its a combination of many failures
      Soft on crime.
      Ignoring crime.
      Shit parenting.
      Single parent homes
      Increased gang numbers.
      Appalling education sytem.
      Equally appalling school attendance.
      Financial pressures
      Convincing young maori theyre victims of whitey system.

      Seriously bring back boot camps esp for the younger scum, dont even give chances just ship em off the day they get caught and slash mums bene for being a shitheap enabler.

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    • Braybits@1828

      Yawn; SO predictable The Nats are ALWAYS strong on ‘Law and order’ especially when all else fails and they think it might get the votes

      Funny thing is though, once they get into power, they do very little to actually implement all they’ve so piously assured the country they would…

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  20. Wait, didnt russia say pretty much the same warnings to USA/NATO/Ukraine?
    https://i.stuff.co.nz/national/politics/128455584/senior-united-states-officials-warned-solomon-islands-of-us-response-to-feared-chinese-military-base

    I find it hilarious merica australia and nz condemn the idea of chinese military on our back door step yet at the same time condemn russia for taking action to prevent the same thing… and russia sent plenty of warnings but still they pushed and thought it was ok.

    Imo usa are weak woke toothless pussies now, they wont do jack shit and china can do whatever they want with little consequence… whats joe biden gunna do? Sanction cheap chinese goods and further rape their own economies lol

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    • Don’t judge the Americans strength by the inept political class SB. They have a very strong weapons manufacturing industry.
      Couple this with military bases all over the pacific with missiles pointed at China (and probably some nuclear). I doubt that China is suicidal and would not want to start an all out war with the US. The US pushing the envelope like they did in Ukraine though is a risk imo, especially with the clowns in government being egged on by the warmongers in the military establishment and the deep state.
      (There is a documentary by John Pilger in 2015 called “The coming War with China” which lays this out quite well.

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  21. Workers at Hutt City Council’s resource consents team are walking out the door, exhausted and unable to cope with record numbers of applications, a staffer says.

    The council has come under fire from developers and planners who say the “broken system”, in which processing times have blown out to nine months, is putting a halt on works and increasing costs.

    “The amount of stress and burnout is unreal,” said the employee, who requested anonymity.

    The council received a record 650 applications last year – an increase of 50% on the previous year, which has been put down to the relaxation of housing intensification rules and an increase in developer contributions.

    https://www.stuff.co.nz/dominion-post/news/hutt-valley/128426822/council-consent-team-overworked-understaffed-after-huge-influx-of-applications

    Same in lots of p[laces.
    In the last few weeks I have seen4 major constructions go under the hammer.
    No funding and so on.
    Lots more to come.

    In an average year we need to build around 20 – 25000 houses. Last year we completed something like 49K and the year before 43K and this year consents are running at about 50k.
    Need a lot of people at 2.8 to a house.
    Auckland is going to have a big crash same as last time and the time before.

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    • …..”resource consents team are walking out the door, exhausted and unable to cope with record numbers of applications”……

      Not one of the bludgers would know what a day’s work was if it circled the room & went up them!

      …..”Auckland is going to have a big crash same as last time and the time before.”…..

      IOW demand will dictate price ahead of supply. Bring it on. Fucking good job!

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  22. Off the Beaten Path, [26/04/2022 8:10 PM]
    Elon Musk exposes the Tyranny of the Minority
    April 25, 2022

    On April 8, 1985, a Texas-based energy company called Mesa Petroleum launched a hostile takeover bid for the Union Oil Company of California, or Unocal.

    Mesa had been founded in 1956 by legendary oilman T. Boone Pickens; and by the 1980s, Pickens had become a well-known corporate raider in the oil and gas industry, i.e. someone who acquires struggling companies at a discount, and then sells off their assets for a profit.

    Pickens’ reputation was so ominous that whenever he set his sights on an acquisition target, the company’s board would usually pay him ‘greenmail’ to leave them alone.

    But Unocal’s Board of Directors wasn’t having any of that.

    So once Pickens announced his takeover offer, Unocal’s Board launched what has become known as a “poison pill”.

    Poison pills are corporate tactics that a company employs in order to make a hostile takeover as difficult as possible; they can take a variety of different forms, but in general they are legal remedies designed to deliberately injure the hostile bidder.

    Pickens sued Unocal immediately in Delaware’s Court of Chancery—a specialty court in Delaware that exclusively hears corporate cases.

    Pickens initially won the case; the court ruled that Unocal’s Board has the responsibility to treat all shareholders equally, and therefore it was illegal to launch a plan that would specifically injure Mesa/Pickens.

    But Unocal appealed. And eventually the Delaware Supreme Court overturned the initial ruling and sided with Unocal.

    This was a landmark corporate case, and it set a clear standard for company boards. The judges established what is now known as the ‘Unocal Standard’, which states that a corporate board CAN implement a poison pill to injure a single shareholder, but only if:

    The shareholder represents an existential threat to the business, i.e. a corporate raider who intends to shut the company down and sell off its assets;
    The poison pill must be proportionate to the threat.
    This Unocal Standard has given rise to some absurd poison pill plans over the years.

    In March 2020, for example, another energy group called The Williams Companies saw its stock price plummet in the early days of the COVID-19 panic.

    So the Board decided to pre-emptively adopt a poison pill plan to make their stock unattractive to any potential activist investors… as well as to any changes that existing shareholders would want to make.

    According to internal documents, the directors wanted to “insulate the Board and management” from the stockholders’ wishes, and to prevent stockholders from “voting erroneously out of ignorance” for new directors.

    Clearly the directors had no interest in those pesky shareholders, i.e. the actual owners of the business, expressing their views.

    At least one director referred to this poison pill as a “nuclear weapon”. Everyone would suffer.

    So a few shareholders sued the company in Delaware’s Chancery Court, and the judges quickly invalidated the poison pill.

    The Williams Companies’ poison pill in no way met the Unocal test. First, there was no existential threat to the business. The Board was essentially launching a nuclear weapon in order to defend against some perceived hypothetical threat, as opposed to a threat that actually existed.

    And more importantly, their response was not proportionate to even the hypothetical threat.

    Moreover, in their ruling, the judges hilariously mocked the arrogance of the Board, referring to the Board’s deep “entrenchment” and “we know better” mentality.

    This is what I call the ‘Tyranny of the Minority’. It’s when a small handful of people, or sometimes even one person, holds a fanatical view that “I and I alone should be in charge.”

    Often this person/group doesn’t even have much of a stake, if any. So their incentives are clearly not aligned with the rest of the stakeholders, yet they have enormous power.

    We most recently saw this with Twitter, which, up until this weekend, was fighting against Elon Musk’s takeover offer.

    Off the Beaten Path, [26/04/2022 8:10 PM]
    Twitter’s Board of Directors famously owns almost no stock in the company. Instead, they receive absurdly generous director fees… which means their incentives are completely misaligned with those of the shareholders.

    Unsurprisingly, Twitter’s stock price has gone nowhere. The company loses money, its content policies are a mess, and users are abandoning the platform.

    Yet when faced with a takeover bid that would actually benefit shareholders and put real money in people’s pockets, the directors rejected Elon and came up with their own poison pill plan.

    Now, Elon Musk is not a corporate raider, i.e. he’s not threatening to shut the company down and sell off its assets. So he does not represent an existential threat to Twitter. This means that the Board already fails the Unocal legal test, which means their poison pill would be easily invalidated in court.

    My guess is that they received sobering counsel over the weekend that they had no real legal options to challenge Elon’s bid. So they’ve now changed their tune and have signaled a desire to negotiate.

    But it’s still a great example of the Tyranny of the Minority—a tiny, uninvested elite who have the power to decide outcomes for everyone else. And they consistently get it wrong.

    This is how government works too. And I’m not talking about elected officials; I’m talking about people like Anthony Fauci, who on Thursday blasted a federal judge for overturning the airline mask mandate.

    Fauci told CBS News that the court ruling was “disturbing” because it was “a public health matter. . . not a judicial matter.”

    Fauci embodies this “we know better” entrenched mentality; he believes that he shouldn’t be subject to oversight, and that he should be insulated from interference and criticism.

    The rest of us peasants shouldn’t be allowed to express a view on the matter. And in a way, he essentially launched his own ‘poison pill’ in 2020 to strip all the other stakeholders, i.e. everyone in the country, of their rights.

    Fauci decided that he and he alone should be allowed to decide what is #science and what is misinformation. And he coordinated with the world’s largest tech companies to make sure of it.

    Larry Fink is another example; his firm, Blackrock, manages more than $10 trillion in other people’s money, primarily through ‘passive’ exchange traded funds and mutual funds.

    Chances are, if you’re one of the millions of people who invested in one of Blackrock’s funds, like the iShares S&P 500 ETF, you never expressly gave Fink the power to vote on your behalf.

    But he has seized that power anyhow… and weaponized it to force companies into his reimagined view of woke stakeholder capitalism; he has even bragged that “at Blackrock, we are forcing behaviors” across Corporate America.

    This Tyranny of the Minority is growing. The media elites, the top universities, Big Tech—they all wield enormous power. Yet their views and incentives are totally misaligned with everyone else.

    Google, for example, recently made changes to its online Docs editor to police your writing and suggest more “inclusive” and often gender-neutral language.

    The good news is that it’s easy to fight back. Just stop using them.

    Stop investing in Blackrock’s funds (and start exercising your own corporate votes). Stop watching cable news. Stop consuming the products of woke companies who don’t have any backbone. Stop using Big Tech.

    After all, there are plenty of alternatives. It costs nothing, for example, to stop using Google’s search engine, and start using Brave Search.

    Honestly, if you’re concerned about the Tyranny of the Minority, but you’re not willing to take even the most simple step, you might want to ask yourself how strong your convictions really are.

    To your freedom,

    Simon Black,
    Founder, SovereignMan.com

    https://t.me/YourBeatenPath/17062

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