Podcasts about Twi

Dialect of the Akan language

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Latest podcast episodes about Twi

BURNING ISSUES
Burning Issues

BURNING ISSUES

Play Episode Listen Later May 19, 2025 110:02


Review and analysis of pertinent national issues in Twi

Economy Watch
Lots of US data releases, few supporting the Trump agenda

Economy Watch

Play Episode Listen Later May 15, 2025 6:58


Kia ora,Welcome to Friday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news Trump's back-down on tariffs came as corporate decision-makers concluded reshoring isn't a good idea. There are few moves to bolster US-based production.But first today, Fed boss Powell spoke overnight and he focused on the challenges they face keeping inflation under control. He noted long-term interest rates are now notably higher, driven mainly by risk premiums rather than shifts in inflation expectations, while estimates of the longer-run neutral policy rate have also risen. He noted the US economy has changed a lot since their last review and warned that inflation might become more volatile in future due to more frequent supply shocks, which will make it harder for central banks to achieve price stability. Throughout his remarks, Powell also stressed the critical role of anchored inflation expectations. Meanwhile US initial jobless claims slipped slightly to 205,200 but that was what seasonal factors accounted for and what analysts were expecting. There are now 1.783 mln people on these benefits, a reduction from last week, but it is up almost +100,000 from this time last year.Maybe surprisingly, American producer prices fell by -0.5% in April, following a revised flat reading in March and defying market expectations of a +0.2% increase. This was the first decline in the PPI since October 2023 and the sharpest drop since April 2020, during the early pandemic period. The retreat was largely driven by a -0.7% fall in service costs, the largest since data collection began in December 2009, and that was due to a -1.6% drop in margins for trade services, because businesses are absorbing much of the impact from higher tariffs. PPI is now up +2.4% from a year ago.Industrial production in the US didn't rise as expected in April. In fact factory output fell -0.4%, reversing the increase in March. And the prospects of shifting significant production "back to the US" seem remote in many diverse categories.There were two regional factory surveys released for May overnight, and both declined somewhat. The NY Fed's Empire State survey reported another modest decline. The Philly Fed's survey for their core rust belt region recorded a sharp improvement, better than the improvement expected. But it is still in decline.In a sign of the times a major lithium battery recycler has entered bankruptcy.US retail sales were little-changed in April, following the upwardly revised +1.7% front-loaded pre-tariff surge in March. 2024 gains mean they are +5.2% higher than year-ago levels.The NAHB/Wells Fargo Housing Market Index in the US fell sharply in May to its the lowest since November 2023 and well below what was expected. Home builders are glum. Current sales conditions fell, sales expectations in the next six months edged lower, and they said traffic of prospective buyers has dropped recently.Meanwhile, housing starts in Canada jumped +30% in April from March and that was well above what was expected. It was their most since June 2023. US tariffs on Canadian softwoods is likely making Canadian house building costs lower.Across the Pacific, Japanese machine tool orders rose +7.7% in April from a year ago, but that growth was a slowing from +11.4% growth in March. But it was the seventh consecutive month of rising machine tool orders. Local orders dropped -5.4% from a year earlier while foreign orders jumped +13.3% on the same basis. India's exports were nothing special in April, certainly not reflective of a rising industrial power. They slipped from March but they were up +9.0% from a year ago due to gains in prior months.In Europe, industrial production rose by +2.6% in March from February, marking the strongest increase since November 2020 and rising from a good +1.1% gain in February. The result easily beat market expectations of a +1.8% rise. The surge was driven primarily by a rebound in output of durable consumer goods.In Australia, they added +75,500 jobs in April, almost 47,500 of them full-time positions. Their employed workforce grew +2.75% in the past year. Their jobless rate eased to 4.1% from 4.3% (although staying at 4.1% on a seasonally adjusted basis which is the metric others report). Inflation pressure plus this strong jobs report might have the RBA re-thinking the wisdom of a rate cut.Bulk freight rates fell -7.0% in the last week to be -18.5% lower than year-ago levels. Container freight rates were also -18.0% lower than year ago levels, but they did rise +8% last week with a surge in outbound cargoes from China across the Pacific on the sudden 'pause' in tariff hikes.The UST 10yr yield is at 4.45%, down -8 bps so far today.The price of gold will start today at US$3218/oz, and up +US$43 from yesterday.Oil prices are -US$2 lower today at just over US$61.50/bbl in the US and the international Brent price is just on US$64.50/bbl.The Kiwi dollar is now at 58.7 USc, down -40 bps from yesterday at this time. Against the Aussie we are down -10 bps at 91.7 AUc. Against the euro we are down -30 bps at 52.5 euro cents. That all means our TWI-5 starts today just over 67.2 and down a net -40 bps from this time yesterday.The bitcoin price starts today at US$104,020 and up +0.8% from yesterday. Volatility over the past 24 hours has remained modest at just under +/- 1.2%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again on Monday.

Economy Watch
Positives hard to find

Economy Watch

Play Episode Listen Later May 14, 2025 4:44


Kia ora,Welcome to Thursday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the price of gold is falling, long term benchmark interest rates keep on rising with larger risk premiums, and monetary policy regulators are coming round to the idea of rate cuts to bolster flagging economic expansion everywhere.But first in the US, mortgage application volumes rose marginally last week from the prior week for the period and holding on to the +11% jump of the previous period. Benchmark home loan rates were basically stable but at an elevated level averaging 6.86%.Canada building consents fell in March and by more than expected although to be fair it only cancelled the February rise and probably isn't too surprising given their election campaign and overall economic uncertainty around relations with the US.Meanwhile, Canadian vehicle sales took off in March, and to its best month since the pandemic, as buyers rushed to get hold of pickups, utes and light trucks ahead of the threat of sharply higher prices. On the other hand, car sales dived.In China, new yuan loan approvals were unusually weak in the April data released overnight. Banks approved loans at their lowest rate for an April since 2005, and at ¥280 bln, that was less than 10% of the good March level and less than half the year ago level, itself unusually weak. Of course, it reflects the initial impact of the trade war on Chinese businesses.In Australia we should note that large parts of Victoria and South Australia are in a severe drought condition, also even parts of Tasmania. Some say it is the worst "in a lifetime" with zero April rainfall extending into May. If there is any hope for livestock farmers it is that grain production has been high in other areas, enabling grain-fed beef to continue. Lucky for them, grain-fed beef demand is rising in China. Those drought conditions contrast with the endless rain Sydney is having.Next week on Tuesday, the Aussie central bank will be reviewing its 4.10% cash rate target. More analysts now see a -25 bps cut then. Although it is no certainty, financial markets also have it priced in.And staying in Australia, regulator ASIC is tackling Macquarie again. ASIC is suing Macquarie Securities alleging it engaged in misleading conduct by misreporting millions of short sales to the market operator for over 14 years. They allege that between 11 December 2009 and 14 February 2024, Macquarie failed to correctly report the volume of short sales by at least 73 million. ASIC estimates that this could be between 298 million and 1.5 billion short sales. The last ASIC action against Macquarie was just a week ago over compliance failures. Today's action is the fifth by ASIC against Macquarie since April 2024.The UST 10yr yield is at 4.53%, up +3 bps so far today.The price of gold will start today at US$3175/oz, and down -US$67 from yesterday.Oil prices are marginally lower today at just under US$63.50/bbl in the US and the international Brent price is just under US$66.50/bbl.The Kiwi dollar is now at 59.1 USc, down -30 bps from yesterday at this time. Against the Aussie we are up +10 bps at 91.8 AUc. Against the euro we are down -30 bps at 52.8 euro cents. That all means our TWI-5 starts today just under 67.6 and down a net -30 bps from this time yesterday.The bitcoin price starts today at US$103,147 and down almost -1.0% from yesterday. Volatility over the past 24 hours has remained modest at just under +/- 1.1%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Economy Watch
As the tempest fades, the net situation is worse

Economy Watch

Play Episode Listen Later May 13, 2025 5:43


Kia ora,Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the relief rally following the US-China trade de-escalation continues, for equities at least. But worries continue about recession and inflation. Investors want higher risk premiums. And it seems China is in no hurry to resume buying from US sources.But first up today, the overnight dairy Pulse auction delivered similar but slightly lower results for both SMP and WMP that were achieved at last week's full auction, basically confirming the recent shifts, especially the up-shift for WMP.The April US CPI inflation rate came in at 2.3%, a touch lower than the 2.4% expected and which applied for March. That was largely due to fuel costs falling more sharply (-11.8%). The costs of food (+2.8%), rents (+4.0%) and transport (+2.5%) were all higher.Last week's Redbook tracking of US retail sales recorded a +5.8% rise from the same week a year ago. We will likely see this fade as the tariff-induced buying eases off now.The NFIB Small Business Optimism Index dropped in April to its lowest level since October 2024. But the retreat wasn't quite as much as was expected.US household debt data updates were a mixed bag. Total household debt rose +$167 bln from the prior quarter to a record high of $18.2 tln in Q1-2025. Delinquency rates rose from the previous quarter, with 4.3% of outstanding debt now in some stage of delinquency.US importers of Chinese goods still face much higher costs. The net position after the tempest and pullback is 'worse' for inflation, and negative for trade. Struggle is all ahead for global trade.In India, CPI inflation fell to 3.2% in April, and that is its lowest rate since before the pandemic. Food prices were up only +1.8% within that. The current overall inflation rate is now well below their central bank's 4% mid-point target. If it stays there, a rate cut in India may be on the cards.In Germany, there was a sharp bounce-back in the ZEW sentiment survey tracking in May, putting the unusual drop in April behind it. The survey indicates growing optimism for the next six months, driven by the formation of a new federal government there, progress in resolving tariff disputes, and signs of stabilising inflation. Nearly all sectors reported improved sentiment in May.In Australia, updated data seems to indicate that Kiwis are losing the desire to visit there. That said there were 104,600 visits by Kiwis in March, -9.3% fewer than in March 2024 and almost -10% fewer than in March 2018 (a pre-pandemic equivalent). For the year to March 2025, we made 1.367 mln visits to Australia, little different (+1.4%) to the same year in 2024. It is a similar story for Aussies visiting New Zealand. In March 2025 it was -1.7% less than the same month a year earlier.Consumer sentiment in Australia has stayed weak in March, according to a widely-watched Westpac-MM survey.We should probably note that good weather and favourable growing conditions in almost all regions has boosted wheat production - and is pushing down prices. They are now back to levels they first achieved ten years ago and are almost -60% lower than their peak in 2022. For similar reasons, corn prices are falling now too.The UST 10yr yield is at 4.50%, up +4 bps so far today.There rate may go higher. A Reuters poll of bond investors shows them increasingly concerned about both a global recession, and rising inflation. That is, stagflation.The price of gold will start today at US$3243/oz, and up +US$20 from yesterday.Oil prices are up +US$1.50 today at just over US$63.50/bbl in the US and the international Brent price is just over US$66.50/bbl.The Kiwi dollar is now at 59.4 USc, up +90 bps from yesterday at this time. Against the Aussie we are down -50 bps at 91.7 AUc. Against the euro we are up +30 bps at 53.1 euro cents. That all means our TWI-5 starts today just under 67.9 and up a net +50 bps from this time yesterday.The bitcoin price starts today at US$104,161 and back up +2.7% from yesterday. Volatility over the past 24 hours has remained modest at just on +/- 1.7%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Economy Watch
Wall Street soars on US-China tariff reprieve

Economy Watch

Play Episode Listen Later May 12, 2025 4:46


Kia ora,Welcome to Tuesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news mostly about the China-US Geneva 'agreement' and market reactions.First up, China and the US agreed to cut tariffs on each other by -115%. For the US that means they will go down to 30%. For China, down to 10%. Supposedly the deal is for 90 days to allow further negotiations, but it will likely be endlessly extended. Oddly, China was the only major power to impose reciprocal tariffs and this deal seem to make them a clear winner with the US meeting most of China's demands for de-escalation. Other countries who regarded themselves as friends and who have or are still 'negotiating' with the US are now in a much worse position. That includes neighbours Canada and Mexico, Japan, and of course the EU.Separately, India who made a big effort to deal with Trump, is spurned, and they have other security reasons to feel offended (justifiably or not).US merchants will rush to return to China supply. But it isn't clear that China will be doing the same with US products. The US trade deficit with China, already elevated, is likely to surge after this type of 'Trump negotiation success'.The equity markets liked the retreat and Wall Street took off. The USD strengthened, probably in a way the American's don't want. The bond market sees more risks and increased its risk premium. Gold and bitcoin fell sharply.The size of the tariff taxes became clear in April with the release of the US Budget Statement. These taxes cost US importers $16 bln in the month, an increase of +US$9 bln from a year ago, or +$500 mln/day, far lower than the +US$2 bln/day claimed by Trump. Of course they will now fall from here and it seems will never reach the claimed levels so any budget boost to tackle deficits - a clearly stated policy objective - is likely now in the bin.The May report from the USDA shows that grain production worldwide is rising while consumption isn't. So prices are falling especially in the US in response to their trade policies. More will be used there as feed grains. Oddly, this report noted lower production and export opportunities for beef but overlooked mention of what is presumed to be a surge in beef imports. They did say dairy production will be lower and imports higher.Across the Pacific, Chinese vehicle sales came in for April up +9.8% from the same month in 2024. These sales ran at 2.59 mln units an all-time record high for any April. NEVs took a record 47% share in the month. In all this, foreign brands are struggling to get a share, or even keep their share of this expanding market.The UST 10yr yield is at 4.46%, up +8 bps so far today. Wall Street has taken off today on the China tariff news, up +3.1% in Monday trade. The price of gold will start today at US$3223/oz, and down -US$100 from yesterday.Oil prices are up +US$1 today at just over US$62/bbl in the US and the international Brent price is just over US$65/bbl.The Kiwi dollar is now at 58.5 USc, down -60 bps from yesterday at this time. Against the Aussie we are down -20 bps at 92.2 AUc. Against the euro we are up +30 bps at 52.8 euro cents. That all means our TWI-5 starts today just under 67.4 and down -20 bps from this time yesterday.The bitcoin price starts today at US$101,401 and down -2.5% from yesterday. Volatility over the past 24 hours has been modest at just on +/- 1.5%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Economy Watch
Progress in Geneva? or just face-saving rhetoric?

Economy Watch

Play Episode Listen Later May 11, 2025 6:24


Kia ora,Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news with claims of "substantial progress" and "a deal we struck" by the Americans in their Geneva talks with China, but no indications of anything from the Chinese. Bluster from the White House doesn't count for much these days.But first in the coming week, US attention will shift to Wednesday's CPI data for April although no real surprises are anticipated. There will be April data for retail sales too, PPI data, housing starts, and the next sentiment update from the University of Michigan at the end of the week.China will report new loan data, house price data, and updates for industrial production and retail sales. Japan will release its Q1-2025 GDP data, and both South Korea and Australia will release labour market data updates. Locally we will get travel, population, retail and productivity data, not to forget the Q1 ready mixed concrete data (!).In Japan, household spending rose +2.1% in March from a year ago and far better than the expected +0.2% gain. It was the strongest growth since December. Helping was that the previous retreats of spending on food basically stopped, while spending on furniture and on recreation rose a good levels.China's April CPI inflation dipped -0.1% from a year ago, holding the same easing for a second month and that was what was expected. It was the third consecutive month of consumer deflation. Within that result, food prices were up +0.3% but beef prices fell -4.9% from a year ago, lamb prices were down -3.8%. Milk prices fell -1.2%.Deflation was more pronounced for producer prices, down -2.7% from a year ago, the steepest retreat for any month in 2025.Staying in China, April exports came in very much better than the pullback that was expected. In fact their trade surplus was almost as strong as the unusual March trade surplus. Few were expecting this 'good' result. Here are the results by trading partner.New Zealand exported twice what we imported from them. For Australia it was almost the same but the Aussies have a higher dependency on China than we do. For the US, they are still taking more that 10% of all Chinese exports although that is down from nearly 13% usually. But Chinese buying of American goods is now under 6% of all Chinese imports, down from the usual 16%. The Americans may have initiated the tariff war, but the Chinese have reacted far faster.Meanwhile China said its Q1-2025 current account surplus hit a record high, more than treble what it was in the same quarter a year ago. US demand saw their merchandise trade surplus leap, while their services deficit narrowed slightly.Across the Pacific in the US, that foreigners are avoiding travel there has been confirmed by new data that shows an historic drop in inbound travel spending. It has only been a sharper drop in the aftermath of the 9/11 attacks and the early stages of the badly-handled response to Covid. The US as a travel destination is a significant reason they have run services surpluses. The travel boycott may build over fears it is unsafe, amid numerous reports of immigration officers detaining tourists or denying entry even for transit.Further the American spring real estate season is shaping up to be 'a dud'. High unsold inventories, high price expectations, and still-high mortgage rates are putting off buyers during this prime selling period.The US barbeque season is approaching and the cost of beef is rising and rising. Tariffs are raising prices and drought is thinning local cattle supply. That means the Americans are more dependent than ever on imported beef, especially ground beef. They are price takers so are paying both the premium for the supply shortfall, plus the full imported tariffs.Looking north, although the Canadian jobless rate rose a touch more than expected to 6.9% in April (and a 3 year high), and there was only a minor rise in overall payroll employment, there was in fact a strong rise in full-time jobs and an equally notable fall in part-time roles.The Canadian dollar fell on the jobless rise. The overall softness however probably means the Bank of Canada will cut its 2.75% policy rate again at their next meeting on June 5 (NZT).The UST 10yr yield is at 4.38%, unchanged from this time Saturday and up +16 bps for the week. The price of gold will start today at US$3323/oz, and down -US$15 from Saturday.Oil prices are holding today at just on US$61/bbl in the US and the international Brent price is still just under US$64/bbl.The Kiwi dollar is now at 59.1 USc, down -10 bps from Saturday at this time, down -30 bps from a week ago. Against the Aussie we are unchanged at 92.2 AUc. Against the euro we are still at 52½ euro cents. That all means our TWI-5 starts today just under 67.6 and little-changed from Saturday, down -20 bps from this time last week.The bitcoin price starts today at US$104,041and up +0.9% from Saturday. Volatility over the past 24 hours has been modest at just under +/- 1.7%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Legends Lookback: A Star Wars Podcast by Youtini
Celebration 2025 Recap (Legends Edition) - Ep 173

Legends Lookback: A Star Wars Podcast by Youtini

Play Episode Listen Later May 8, 2025 67:12


Although the jetlag has left him scarred and deformed, Freddy C is BACK from Star Wars Celebration in Tokyo, Japan. He's here to tell us all about his experience and be our tour guide to all the Legends-related info that came out of the convention. We'll speculate about Starfighter, the Legends references in Andor Season 2, and of course Maul: Shadow Lord and the mysterious red-skinned Twi'lek—could it be Darth Talon? Listen to find out what we think.

Economy Watch
Smoke & mirrors

Economy Watch

Play Episode Listen Later May 8, 2025 6:14


Kia ora,Welcome to Friday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the US Fed looks more trapped in policy choices than it has for a long time.But first up today, a US-UK trade deal was announced to great fanfare. But in fact it isn't much. Rather it is a small set of carve-outs from the previous base case: Car tariffs on British-made cars would come in at 10% rather than 27.5%, steel tariffs would go to zero and the threat of future pharmaceutical tariffs would recede. The overall headline US tariff of 10% seems to still be in place; the UK has offered more market access to the US and a Boeing airplane order. But the US did not get changes on food standards or the UK's digital services taxation. The whole thing is very underwhelming. All headlines, no substance.But the equity markets liked it, even if the bond markets didn't. The USD rose on the news. Perhaps the equity markets also see progress coming in tomorrow's Swiss meeting between China and US representatives?Meanwhile, US jobless claims fell last week and by a bit more than seasonal factors would have assumed, coming in right at the level expected by analysts. There are now 1.846 mln people on these benefits, whereas a year ago there were 1.743 mln on them, a +5.9% rise.American labour productivity fell -0.8 in the March 2025 quarter as output decreased -0.3% and hours worked increased +0.6%. It is their first decrease in productivity since the volatile pandemic years, and prior to that, the first Trump presidency.March wholesale inventories rose marginally (+0.4%) but so did sales in the pre-tariff rush, so the inventory-to-sales balance was little-changed and not exhibiting any stress.Also not changing much were American inflation expectations in April, which isn't as sanguine as it sounds because they came in at the same elevated 3.6% level they jumped to in March. However, households' perceptions about their current financial situations deteriorated, with the share of consumers reporting that they are somewhat or much worse off compared to one year ago increasing. Similarly, households' expectations about their future financial situations deteriorated, with the share of those believing they will be somewhat or much worse off a year from now also rising.In Malaysia, their central bank held its policy rate at 3% overnight, as was expected. They have low inflation, 1.4%, and a good +4.4% economic expansion but one that is fading. And they are vulnerable to the tariff war. In the meantime, Malaysian industrial production is still expanding at a healthy clip.In Europe, German industrial production is on the come-back up +3.0% in March from February, and for the first time since May 2023, hardly lower than year-ago levels. Of course, this is data that predates the onset of the US tariff war.In England, their central bank cut its policy rate by -25 bps to 4.25%, also as expected. But two of their nine members voted for no change. It is their fourth rate cut since August 2023, when their rate reached 5.25% in the previous cycle. They currently have a 2.6% inflation rate, slowly easing, and a +1.4% economic expansion rate.With the Bank of England following the ECB down, along with Canada, soon Australia, and likely New Zealand, it does point out that the US Fed is now boxed in by US fiscal policy, basically unable to cut rates there because of the immediate inflation risks.In Australia, they changed their laws making it clearer that buy-now-pay-later contracts are covered by their National Credit Code (which is Schedule 1 to their National Credit Act). ASIC has now issued regulatory guidance for the BNPL sector.We should probably note that lithium prices have fallen further, with the bubble well and truly over, and prices back to their pre-bubble 2021 levelsThe reduction impetus is going out of global container freight rate changes, down just -1% last week to be -23% lower than year-ago levels. Bulk cargo rates stopped rising in the past week.The UST 10yr yield is at 4.37%, up +10 bps from this time yesterday.The price of gold will start today at US$3303/oz, and down -US$81 from yesterday.Oil prices are firmer today, up +US$1.50 at just under US$60/bbl in the US and the international Brent price is now just under US$63/bbl.The Kiwi dollar is now at 59.1 USc, down -60 bps from yesterday at this time, down a full -1c from Wednesday. Against the Aussie we are down -20 bps at 92.3 AUc. Against the euro we are unchanged at 52.6 euro cents. That all means our TWI-5 starts today just on 67.6 and down another -20 bps.The bitcoin price starts today at US$101,054 and up +4.6% from yesterday. Volatility over the past 24 hours has been moderate at just under +/- 3.0%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again on Monday.

Economy Watch
The US Fed warns of rising economic risks

Economy Watch

Play Episode Listen Later May 7, 2025 5:24


Kia ora,Welcome to Thursday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the global economy's track is no clearer today.First up, the US central bank kept it key policy rate unchanged at 4.50% for a third consecutive meeting in line with expectations. They are keeping their wait-and-see approach but watching to see if the tariff taxes drive up inflation and slow economic growth. They say they still see expanded economic activity despite signs net exports are volatile. So far they haven't seen the jobless rate move "and labour market conditions remain solid". But they are seeing elevated inflation, and they foresee risks of higher unemployment and higher inflation.Equity markets dropped on the release, as did benchmark bond yields. The USD hardly moved however.Earlier, it was reported that US mortgage application volumes jumped +11% last week from the previous week, ending the three consecutive slumps from earlier in the month. The rebound came after there was another small drop in benchmark mortgage rates.Across the Pacific, China's FX reserves rose in April to their highest level in more than six months (in USD).And staying in China, their central bank said it will cut the reserve requirement ratio (RRR) by -50 basis points, injecting about ¥1 tln in liquidity into their domestic economy. But the cut won't come until May 15 and will then be the first RRR cut in 2025. They also said they will lower the rate on seven-day reverse repurchase agreements by 10 basis points to 1.40%, effective tomorrow, Thursday, May 8. This is the first cut to this key policy rate since September 2024 and could lead to cuts in market and other regulatory rates.And despite denials on both sides, both China and the US said they will meet in Switzerland to discuss stuff on Saturday. Interestingly, the Chinese side will be represented by their lead person for China-US economic and trade affairs, but the US side won't be led by its USTR, but the more senior Treasury Secretary.In the EU there were no surprises in their March retail sales volume data, holding flat again.However, there was positive data out of Germany, where factory orders rose +3.6% in March from February, well above market expectations of a +1.3% gain and putting behind it February's lackluster result. It was their strongest increase since December, with broad-based gains across sectors.Meanwhile, Poland cut its official interest rate by -50 bps to 5.25%. Falling inflation and weak economic activity prompted the move, but it was unusual because they have elections due on May 18 and they are battling Russian election interference.In Australia, regulator ASIC said it has imposed additional conditions on Macquarie Bank's Australian financial services licence after multiple and significant compliance failures – some going undetected for many years and one for a decade.And it seems Peter Dutton wasn't the only party leader to lose his seat at the weekend election. The Greens leader will too. In fact, like the Liberals, the Greens vote fell rather sharply at that election.Separately, the OECD said the global trade in fake goods reached almost US$½ tln in the latest data they have - which is for 2021, posing risks to consumer safety and compromising intellectual property. The breakdown in trade cooperation since won't have lessened the problem.The UST 10yr yield was at 4.28%, down -3 bps from this time yesterday before the US Fed announcement, then slipped slightly further to 4.27%.The price of gold will start today at US$3384/oz, and down -US30 from yesterday.Oil prices are firmer today, down -50 USc at just on US$58.50/bbl in the US and the international Brent price is now just under US$61.50/bbl.The Kiwi dollar is now at 59.7 USc, down -30 bps from yesterday at this time. Against the Aussie we are unchanged at 92½ AUc. Against the euro we are down -20 bps at 52.6 euro cents. That all means our TWI-5 starts today just on 67.8 and down -20 bps.The bitcoin price starts today at US$96,653 and up +2.2% from yesterday. Volatility over the past 24 hours has been modest at +/- 1.6%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

BURNING ISSUES
Burning Issues

BURNING ISSUES

Play Episode Listen Later May 7, 2025 110:02


Review and analysis of pertinent national issues in Twi

Economy Watch
Buckle in for a day of big announcements

Economy Watch

Play Episode Listen Later May 6, 2025 6:09


Kia ora,Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news we are in for a day of significant announcements, but locally and internationally.But first up today, the overnight full dairy auction brought higher prices, up +4.6% in USD terms and up +3.0% in NZD terms. Of note, the butter price hit a new all-time record high of US$74992/tonne. Also, cheddar cheese rose a very sharp +12.0% from the prior full event, and the dominant WMP price was up a heady +6.2%. This has been a very positive outcome, even if it was on relatively low off-season volumes.There seemed to be two big background drivers. First, EU production is slipping and today's NZ auction prices seem to be equalising with European pricing. And secondly, there was a substantial increase in demand from Southeast Asian buyers, shifting from EU supply. Today's result will bring upside to the payout - if it is maintaintained in future events.Elsewhere, there was a good rise in US retail sales last week, up +6.9% from the same week a year ago in the Redbook survey. But as we have noted previously, it is now hard to separate the inflationary effect of the tariff taxes from volume gains. It is about now that the tariff-tax impact will start happening. All eyes are on Apple, because they won't be able to avoid price hikes much longer now.Retaliatory tariff taxes also juiced up US exports in both goods and services in March but it was minor and similar to February. US imports however shot up to a new all-time record high. So the American trade deficit also hit a new record exceeding -$140 bln for the monthNone of this is helping sentiment. The latest survey, this one the RealClearMarkets/TIPP Economic Optimism Index retreated in May from April when a gain was anticipated. It was at its lowest in seven months.Meanwhile, the US logistics managers index returned to more usual levels, but allowing it to do that were rises in inventory and freight costs, rather than the efficiency components.There was a well-supported US Treasury 10 year bond auction earlier today, and that delivered a median yield of 4.28% which was down -6 bps from the prior equivalent event a month ago.Tomorrow will be dominated by the US Fed's meeting outcome. Changed interest rates are unlikely, but there will be intense interest in how they view the present and future economic landscape.In Canada, the widely-watched local Ivey PMI turned into contraction in April.In China, the Caixin Services PMI expansion eased back in April, down from March's three-month high to be below analyst forecasts. This is now the softest expansion in their services sector in seven months. But this Caixin version reported a slightly faster expansion than the official version.There is a lot going on today, and amongst that we are expecting a significant Chinese briefing by their central bank and other regulators about new moves to respond to their economic pressures triggered by the tariff war.In Europe, their April services PMI didn't fall into contraction as expected. Rather it stayed just on the positive side. But it is an anemic expansion all the same.In Australia, household spending slipped in March from February, to be +3.5% higher than March 2024. Of special note was the very sharp -1.3% dive in Queensland.There was an even sharper retreat in building consents in Australia in March with a big -15% dive in consents for building apartments.The UST 10yr yield is now at 4.31%, down -3 bps from this time yesterday.The price of gold will start today at US$3414/oz, and up +US$101 from yesterday, and heading back towards its April 23 record high.Oil prices are firmer today, up +US$2 at just on US$59/bbl in the US and the international Brent price is now just under US$62.50/bbl.The Kiwi dollar is now at 60 USc, up +40 bps from yesterday at this time. Against the Aussie we are up +0 bps at 92½ AUc. Against the euro we are up +50 bps at 52.8 euro cents. That all means our TWI-5 starts today just under 68 and up +10 bps. The Japanese yen has strengthened to limit the TWI-5 shift.The bitcoin price starts today down a mere -0.3% from yesterday at US$94,563. Volatility over the past 24 hours has been low at +/- 0.9%.Join us at 10:45am for the release of the important March quarter jobs report for New Zealand. We are expecting no rise in employment and a rise in the unemployment rate to 5.3%. Variations from that might be market-moving.And then at 2pm we will be covering the RBNZ's half-yearly Financial Stability Report. This will be Christian Hawkesby's first big set piece presentation as Governor, a role he holds until at least October.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Economy Watch
Focus turns to the US Fed

Economy Watch

Play Episode Listen Later May 5, 2025 5:21


Kia ora,Welcome to Tuesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news all eyes are now turning to the US Fed and the results of their meeting about to start.But first up in the US, the widely-watched ISM services PMI for April came in better than expected with a modest expansion, off a nine month low in March. New orders drove the result as did higher inventories. Employment contracted again. Activity was little-changed but still expanding. However price pressures jumped to their highest since February 2023.This contrasts with the globally-benchmarked S&P Global/Markit version which reported its slowest growth for 17 months amid subdued demand and a slump in business confidence and rising costs. Financial markets are preferring to look at the ISM one, however.All eyes now turn to Thursday's (NZT) US Federal Reserve board meeting where most observers think they will hold policy unchanged to see how the price impact of tariffs works out.There was a well supported UST 3yr bond auction this morning and that delivered a median yield of 3.77%, up slightly from 3.70% at the prior equivalent event a month ago.In Washington, there are still no tariff deals. There are negotiations but it seems no-one is rolling over in the way the new US Administration assumed.And as you will already probably know, Warren Buffett has announced his retirement as CEO at the end of this year, when he will be aged 95 years. But he will remain chairman of Berkshire Hathaway.In Canada, things aren't good with their service sector suffering a steep contraction of activity in April.And recession fears are putting a real downer on their real estate markets.Across the Pacific, China is still on holiday. Singapore's April retail sales weakened from March, down a sharpish -2.8% to leave them up just 1.1% from the same month a year ago. Car sales were a significant factor in the month-on-month drop, but not all of it.The results of the weekend's Singaporean general election are in and there was no surprise that they had engineered a dominant win for their ruling PAP party, enough to retain their two-thirds-and-more majority. They won 87 of the 98 seats 'contested' with 67% of the vote. Their courts ensured the opposition could only run weak candidates. They have a 'democracy' in name only.Post-election in Australia, the ASX200 fell -1.0%, and their benchmark 10 year bond rose +10 bps from pre-election levels. Investors think they are facing at least six more years of a Labor-led government, three at least with a majority-Labor government.The key trends in the Aussie election were a stark gender divide with women overwhelmingly repelled by the Liberals, immigrant votes, including Chinese votes, increasingly attracted to Labor, and the rise and rise of Teal candidates (who are social liberals, economic conservatives). The opposition Liberal Party are likely to compound their mistakes by selecting two older socially conservative men to the top leadership.The other notable trend from the Aussie election was the near wipeout of the Greens. Even their leader is having trouble holding his seat.Global food prices rose in April but are only back to the same level they were in 2023 and well below March 2022 levels. But the rise was largely down to rises for meat (up +4.3% from year-ago levels), and especially dairy (up +23% on the same basis).The UST 10yr yield is now at 4.34%, unchanged from this time yesterday.Oil prices are weaker again, down -US$1 at just on US$57/bbl in the US and the international Brent price is now just under US$60/bbl. These are still four year lows, hurt by the combination of easing global demand along with rising output.The Kiwi dollar is now at 59.6 USc, down -20 bps from yesterday at this time. Against the Aussie we are down -20 bps at 92.3 AUc. Against the euro we are little-changed at 52.3 euro cents. That all means our TWI-5 starts today just under 67.9 and up +10 bps.The bitcoin price starts today down -1.0% from yesterday at US$94,803. Volatility over the past 24 hours has been modest at +/- 1.1%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Economy Watch
Gold drops sharply from its recent highs

Economy Watch

Play Episode Listen Later May 2, 2025 5:08


Kia ora,Welcome to Friday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the gold price is tumbling today, ending its recent spectacular rise.But first, American initial jobless claims rose to 223,600 last week, more than expected. There are now 1.907 mln people on these benefits, +153,000 more than at this time last year, a rose of +8.7%.But job cuts announced in April came in less than you might have thought at 105,400, certainly less than for March. But they are +62% higher than year-ago levels.The widely-watched ISM manufacturing PMI for April slipped into a deeper contraction than in March, although slightly less so than expected. Output shrank more sharply and prices rose faster. Meanwhile, new orders declined at a slower pace although new export orders fell steeply. This survey was quite a bit more negative than the S&P Global/Markit version we noted yesterday.One sector that has lost much of its momentum is the US construction industry. It atrophied somewhat in March, again.The expectation is that tomorrow's US non-farm payrolls report will deliver a rise of +130,000, about half the levels they had at the back end of 2024. But there may be downside risks to this estimate. A very weak result will put the Fed in a real bind, having to choose between rescuing jobs in a faltering economy, or pushing back on rising inflation. The last time they had serious stagflation was in the late 1970s, and then the Fed chose fighting inflation over preserving jobs and growth. It caused social unrest, but it beat inflation, and ended stagflation's curse - until now. But fifty years later, few people understand that curse and it's corrosive effects.Across the Pacific, the Bank of Japan held its key interest rate steady yesterday as the new American tariff policy casts a shadow over the Japanese economy. The central bank kept its policy rate at 0.5% during its first board meeting since Washington announced a wave of "reciprocal" tariffs in early April. The yen fell. The BOJ also stood pat at its March meeting following a +25 bps hike in January.And don't forget, China is on holiday, until Tuesday. So data releases there are sparse. It may be a good time for some of them to take a break; outbound export shipments to the US are reportedly down -50%. Despite that, there are signs the US is desperate to get trade talks going but Beijing is playing hard to engage.Australia reported a merchandise trade surplus of +AU$10.8 bln in March. This was a good improvement from the relatively low +AU$8.4 bln in March 2024, but similar to the average March in the prior five years (+AU$10.6 bln). (Australia usually reports seasonally adjusted values, and are much lower than the actual values this year, for some reason.)The Aussie federal election is in its final day now. Pundits seem to think the incumbent government will be returned but with a reduced majority, maybe even requiring a coalition partner. We will know soon enough.Global container freight rates fell -3% last week from the prior week to be -23% lower than year ago levels. Bulk freight rates were little-changed.The UST 10yr yield is now at 4.23%, up +5 bps from this time yesterday.The price of gold will start today at US$3214/oz, and down -US$95 from yesterday.Oil prices are holding lower at just on US$58.50/bbl in the US and the international Brent price is now just under US$61.50/bbl. These remain four year lows, down to level last seen in April 2021.The Kiwi dollar is now at 59 USc, down -40 bps from yesterday at this time. Against the Aussie we are down -20 bps at 92.6 AUc. Against the euro we are little-changed at 52.3 euro cents. That all means our TWI-5 starts today just on 67.4 and down -10 bps.The bitcoin price starts today up +2.8% from yesterday at US$96,810. Volatility over the past 24 hours has been modest at +/- 1.9%.This briefing is taking a few days off for a short break. We will resume on Tuesday, May 5, 2025.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again on Tuesday.

BURNING ISSUES
Burning Issues

BURNING ISSUES

Play Episode Listen Later Apr 30, 2025 110:03


Review and analysis of pertinent national issues in Twi

Economy Watch
The US becomes a drag on the world economy

Economy Watch

Play Episode Listen Later Apr 30, 2025 7:26


Kia ora,Welcome to Thursday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the consequences of US policy changes are now starting to show up in the data.The big overnight news is the Q1-2025 US GDP report. The American economy shrank at an annualised rate of -0.3% in the period, the first retreat since Q1-2022. This was a sharp reversal from +2.4% growth in the previous quarter and well below market expectations of +0.3% growth. A surge in imports was one key factor as businesses rushed to stockpile goods in anticipation of higher costs from the tariff announcements. But that didn't include consumers because their spending growth cooled to 1.8%, the slowest pace since Q2-2023. Federal government spending fell -5.1%, the steepest drop since Q1-2022.That 'cooled' consumer spending reversed in March with a tariff-stocking-up rise for them too (especially for cars) ahead of the April cost increases. PCE inflation cooled a little, but not yet back to mid-2024 levels. Personal disposable income rose less than spending in March.Financial markets reacted negatively to the larger than expected GDP shifts.This weekend we get the April non-farm payrolls report and currently markets expect a smallish rise of +130,000. But that may be an over-estimate. The ADP survey of private business only added +62,000 workers to their payrolls in April, less than half of the downwardly revised 147,000 payrolls in March and well below market expectations of +115,000.April data is weaker than for March, so prospects for Q2-2025 economic activity do not look flash for the giant US economy. US mortgage applications sank again last week, and for a third straight week. A pullback in new orders and production levels in April saw the Chicago PMI contract for its 17th consecutive month.But US pending home sales jumped in March from February, ahead of tariffs which are expected to make new home purchases more expensive. But they are -0.6% lower than year-ago levels which itself was a weak base.And still in the US, it is becoming clearer who will be paying the tariffs. Retail giant Walmart has raised the white flag, telling Chinese suppliers to resume shipments suggesting to them it will 'absorb' the new border costs. Of course they will be passed on to consumers.Across the Pacific, we are looking ahead to the Bank of Japan rate decision later today, although the landscape has changed there and they are unlikely to raise their +0.5% policy rate now.Japan's industrial production was weakish in March, coming in lower than expected from the prior month to be little-changed from March a year ago. At the same time they reported retail sales +3.1% ahead of the same month a year ago which was lower than expected, also with current weakness from February.Nearby, Korea said their industrial production came in better than expected in March although not as strong as for February. Korean March retail sales however gave back a small bit of the outsized rise in February.In China, their May Day holiday starts today and runs to May 5, inclusive. (They were required to work on April 27 (Sunday) to give them five consecutive "days of rest". They may not be resting; travel bookings for domestic trips are up through the roof this year. (Don't forget, in China, the standard working week is 8 hours per day, 40 hours per week, which is a five-day work week (Monday-Friday). However, it's important to note that the 996 work culture, where employees work from 9am to 9pm, six days a week, is a common reality, especially in their tech industry.)Once again the official factory PMI for China came in with a small contraction (a definite slowing), while the private Caixin version came in with a small expansion, although a slight slowing. Separately, the official services PMI came in with a slightly better expansion. In all cases, new order levels retreated.In Europe, the German economy expanded slightly in Q1-2025 from Q4-2024. Inflation was steady in April at 2.2%, and retail sales were up +2.2% on a volume basis from March year-ago levels, but little change from February.That all helped the overall EU GDP to expand +1.4% in Q1-2025 from a year ago, up +0.4% from Q4-2024. It is rate that the EU outperforms the US, and this isn't so much because the EU is rising, more that the US is falling.Whichever way you sliced it, Australia's inflation came in at 2.4% in March from a year ago. That was true for the quarterly CPI, and the monthly inflation indicator. Both were little-changed from the respective prior releases. There's now talk of a post-election rate cut from the current 4.10% cash rate target.The pre-tariff shoring up saw air cargo demand spike in March, led by activity in Asia/Pacific, and the US. Come April and May, this spike is expected to reverse quite sharply. Passenger air travel is flattening right out, especially in North America. But it is being held up by strong China and India domestic demand, and still-good Asia/Pacific international demand.The UST 10yr yield is now at 4.17%, unchanged bp from this time yesterday.The price of gold will start today at US$3309/oz, and down -US$10 from yesterday.Oil prices are down more than -US$2 at just under US$58.50/bbl in the US and the international Brent price is down more than -US$3, now just over US$61/bbl. These are four year lows, down to level last seen in April 2021.The Kiwi dollar is now at 59.4 USc, unchanged from yesterday at this time. Against the Aussie we are down -20 bps at 92.8 AUc. Against the euro we are little-changed at 52.3 euro cents. That all means our TWI-5 starts today just on 67.6 and essentially unchanged.The bitcoin price starts today down -1.3% from yesterday at US$94,182. Volatility over the past 24 hours has been modest at +/- 1.2%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Economy Watch
Dumb policy brings dud results

Economy Watch

Play Episode Listen Later Apr 29, 2025 4:40


Kia ora,Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news negative data is starting to flow more aggressively in the US as the consequences of dumb policy show through. It been a track to decline for the first 100 days of Trump II.First, the US Redbook index of retail sales rose +6.1% last week from the week before, but the strong suspicion is that much of this is inflation-related.And that is supported by a sharp drop in consumer sentiment reported by the Conference Board, down to a 13 year low in April and confirming the UofM earlier sentiment survey.US job openings fell by -288,000 to 7.192 mln in March, down -901,000 from a year ago to the lowest level in six months and well below market expectations of 7.5 mln. The drop was broad-based. Their quit rate rose to an 8 month high.The US trade deficit in goods widened sharply to -US$162 bln in March, the largest on record, and well above the expected -US$146 bln gap as tariff threats drove US importers to front-load their purchases. Unsurprisingly, that alos generated a spike in wholesale inventories.This bad trade result probably cements a very weak Q1-2025 GDP result. The next AtlantaFed GDP Now update will come tomorrow, and is unlikely to be pretty.The Dallas Fed's services sector survey pointed to weaker conditions and a weaker outlook.The Canadian election has resulted in a narrow win for the center-left (in North American terms) Liberals and the Quebec coalition partner. This is an unusual fourth consecutive win for the Liberals, and an unlikely one, very much aided by Trump trolling. It will be a tough gig because they are clearly facing recession, also flowing from the newly-fractious US relationship.The ECB survey on consumer inflation expectations in the euro-zone rose in March with the year ahead expectation up to 2.9%, its highest in a year.EU consumer sentiment dropped in March and to its lowest since December.And we should probably note that Denmark says it wants the EU to join the CPTPP.In Australia, there are three days left of campaigning in their federal election. Polling is tightening. Despite those polls still showing Labour ahead, much will depend on how voters rank their preferences, which could make it rather close.The overnight dairy Pulse auction came in better than the futures market signaled. The SMP price rose as expected and to its highest in a year, but the WMP price did not fall as expected, rather it showed a small gain and to its highest in three years.The UST 10yr yield is now at 4.17%, down another -4 bps from this time yesterday.The price of gold will start today at US$3319/oz, and down -US$17 from yesterday.Oil prices are down -US$1.50 at just on US$60.50/bbl in the US and the international Brent price is down a bit less, now just under US$64.50/bbl. These are two-week lows as global trade tensions and weak US data dampened the demand outlook.The Kiwi dollar is now at 59.4 USc, down -0.2% from yesterday at this time. Against the Aussie we are up +10 bps at 93 AUc. Against the euro we are unchanged at 52.2 euro cents. That all means our TWI-5 starts today just on 67.6 and down -10 bps.The bitcoin price starts today up +1.3% from yesterday at US$95,401. Volatility over the past 24 hours has been low at +/- 0.9%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Economy Watch
'Unusual' is putting it mildly

Economy Watch

Play Episode Listen Later Apr 28, 2025 4:42


Kia ora,Welcome to Tuesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news there have been some unusual events overnight. And that's putting it mildly.Canadians are voting in federal elections, ones where the winner will need to tackle a weird US administration. The US president injected himself into the campaign at the last minute with a claim Canadians should vote for him to make Canada the 51st state of the US. There are no exit polls yet, but it is likely to steel Canadians to reject the call in record numbers whatever the result is.The clear instability of the Trump action saw Wall Street fall almost immediately but has recovered slightly since. There are nerves on Wall Street about some impending Big Tech results out soon too.In the real world, Canadian wholesale sales slipped -0.3% in March.In the US, the Dallas Fed factory survey dived to its worst level since the pandemic, and before that its worst level since early 2016. The fall was worst in new orders. Inflation rose. Confidence in the future weakened. The US oil patch isn't a happy place.In Europe, we should probably note that there has been a major electricity grid failure in Spain and Portugal with much of the country blacked out, although service is now being restored.Separately, a key ECB figure said the European Central Bank may cut interest rates below the neutral level that keeps the economy in balance. He said euro zone inflation may come in lower than expected as a result of American tariff actions and require the much looser settings.In Asia, India said its industrial production rose +3.0% in March from a year ago, similar to the slowdown reported in February, a lot more tamer than the expansion rate has been recently although back to its long term average. This is not evidence their economy is booming from manufacturing.In China, their centr5al bank is signaling that both rate cuts and reserve ratio cuts are on their to-do list "at the right time". Both will boost liquidity and shore up any economic wavering.Singapore's unemployment rate ticked up a little, but only from an historically low level and only back to its long-run level.Singapore has a national election on Saturday, May 3. No surprise is expected in a contest closely controlled by the ruling party.Australia's federal election is on the same day and that outcome is a lot more uncertain.Australia is one of very few countries to have a AAA credit rating from Moody's, S&P, and Fitch. Now analysts at S&P are openly concerned about the cost of election promises in light of their budget forecasts that earlier showed long-term deficits rising. Election victory might be a bit of a poisoned chalice if it also comes with a downgrade, higher debt servicing costs and rising deficits. Public policy choices then become very hard, very necessary, and very unpopular.The UST 10yr yield is now at 4.21%, down -4 bps from this time yesterday.The price of gold will start today at US$3336/oz, and up +US$17 from yesterday.Oil prices are down -US$1 at just under US$62/bbl in the US and the international Brent price is down a bit more, now just over US$65.50/bbl.The Kiwi dollar is now at 59.6 USc, unchanged from Saturday at this time. Against the Aussie we are down -30 bps at 92.9 AUc. Against the euro we also down -30 bps at 52.2 euro cents. That all means our TWI-5 starts today still just on 67.7 and down -30 bps as well.The bitcoin price starts today little-changed at US$94,137 and down just -0.1% from this time yesterday. Volatility over the past 24 hours has been modest at +/- 1.4%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

BURNING ISSUES
Burning Issues

BURNING ISSUES

Play Episode Listen Later Apr 28, 2025 110:02


Review and analysis of pertinent national issues in Twi

Economy Watch
China pushes itself ahead

Economy Watch

Play Episode Listen Later Apr 27, 2025 6:18


Kia ora,Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news this week we may start to see some hard data from the US and how the Trump insurgency is affecting the world's largest economy. Already sentiment surveys seem pretty negative.For us, the week ahead will be dominated by the March quarter financial system data releases from the RBNZ on Wednesday.Internationally, we will remain trapped watching the chaotic policy changes from Washington and trying to assess how they may impact us. Wall Street's earning season releases will also be a big influence, especially results from Big Tech. And the Americans will release their Q1-2025 GDP results, PCE inflation data, and their ISM PMI survey results. And at the end of the week we will get the April non-farm payroll results for the US labour market.The Bank of Japan is scheduled to review its monetary policy, but they are unlikely to make any changes in the fog of uncertainty around trade policies. Australia will release its Q1-2025 CPI data (expect a dip to 2.2%). China will release its official PMI survey results.Over the weekend, China said its March industrial profits were better than expected, but private sector profits slipped again. However, overall profits rose +0.8% from a year ago. Also better were foreign company profits which were up +2.8% on the same basis.China said they are adding another ¥500 bln in medium-term lending facility funding. This is the second month they have pushed out substantial additional liquidity in this way.And China says more than 120 million people have benefited from their old-for-new consumer goods trade-in subsidy program, driving sales of more than ¥720 bln.And the BS meter is on high after Trump said that “we're meeting with China” on tariffs, comments aimed at soothing jittery financial markets. But Chinese officials say no talks have taken place.In fact, China cancelled some large pork and soybean orders to US suppliers. American farmers not only have to bear the brunt of trade policy gone rogue, they are also battling rouge weather.Singapore said its industrial production rose in March, a bounce-back from a weak February result. But the recovery wasn't as strong as analysts had expected.Across the Pacific, US initial jobless claims fell last week to +209,700 and to the level expected. But seasonal effects suggested this reduction should have been larger. There are now 1.89 mln people on these benefits, still higher than year ago levels. This is despite Federal pressure on States to deny long term undocumented workers access to benefits.New durable goods orders jumped in March by +10.9%, the largest rise in seven months. Capital goods orders rose +24.1%. But non-defense, non-aircraft capital goods orders were only up +1.8%. This is probably why the March or April PMIs didn't note a general rise in factory orders.US existing-home sales fell -5.9% in March from February to be -2.4% lower than one year ago.Meanwhile the Kansas City Fed factory survey reported lower activity, higher costs, and unchanged order levels.Nationally, the Chicago Fed's National Activity Index reported a small slip in March. This is consistent with the overall Fed Beige Book monitoring.And finally for the US, the UofM sentiment survey for April was -8.4% lower than for March, -32% weaker than a year ago. These are big drops. Year-ahead inflation expectations surged from 5.0% in March, an unusually high level, to 6.5% this month, the highest reading since 1981.North of the border, Canada reported February retail sales and they slipped from January to be +2.1% ahead of year ago levels. This data is volume data, so a real increase.And its election day in Canada (tonight NZ time). There has been a notable surge in early voting. Official data for this was released a week ago, and that showed 7.3 million electors had voted in advance at that stage. This is a +25% increase from the 5.8 million electors who voted in advance in the last federal general election in 2021. They have 27.6 mln eligible voters this time.The UST 10yr yield is now at 4.25%, up +1 bp from this time Saturday.The price of gold will start today at US$3318/oz, and up +US$88 from Saturday.Oil prices have held from Saturday be still just over US$63/bbl in the US and the international Brent price is now just under US$67/bbl.The Kiwi dollar is now at 59.6 USc, down -10 bps from Saturday at this time. Against the Aussie we are down -10 bps at 93.2 AUc. Against the euro we unchanged at 52.5 euro cents. That all means our TWI-5 starts today still just on 68 and unchanged from Thursday, but up +40 bps from a week ago.The bitcoin price starts today at US$94,238 and down -0.8% from this time Saturday. Volatility over the past 24 hours has again been low at +/- 0.7%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Economy Watch
A Trump tariff backdown coming?

Economy Watch

Play Episode Listen Later Apr 23, 2025 5:38


Kia ora,Welcome to Thursday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news that as tariffs kick in, the US gets higher prices and lower activity. The White House is signaling it wants to pull back from its bluster (whiff of panic?), although China is yet to respond.But first in the US, mortgage applications fell sharply last week to be just +6% above the weak week a year ago. Benchmark interest rates rose, which seems to have choked off new purchase borrowers, and refinance borrowers.Sales of new single-family homes rose +6.0% in March from a year ago at a seasonally adjusted annualised rate of 724,000 and the highest in six months, and much better than market expectations of 680,000 homes. But to be fair this latest level is still within the range it has been for the past 27 months. They still have unsold inventories of over 8 months of sales at the current rate, which is a lot for builders to carry.The latest US Treasury bond auction, for the key 5yr Note, was well supported but delivered a yield of 3.93%, down from 4.04% at the prior equivalent event a month ago. This is the maturity that foreign institutions prefer so is a good indicator of foreign support of US debt instruments. More than a quarter of all US Treasury debt is owned by foreigners, more than a third in the 2-5 year maturities. If we see a pullback, it will be in these auctions, and evidenced by rising yields.The S&P/Markit US Manufacturing PMI rose marginally in April from March to a small expansion, better than the market expectations of a small contraction. Although growth was modest, this marked the fourth consecutive month of expansion in factory activity. Meanwhile, the equivalent services PMI fell sharply to a two month low. There are warning signs here. Prices charged for goods and services rose in this latest month at the sharpest pace for 13 months, increasing especially steeply in manufacturing (where the rate of inflation hit a 29-month high) but also picking up further pace in services (where the rate of inflation struck a seven-month high). More generally, sentiment fell among the surveyed companies.The US Fed's April Beige Book is out and it is picking up similar themes; lower sentiment, stuttering demand, and rising prices. They are more muted in the Beige Book surveys, but they are still being noted.There were 'flash' PMIs out for other countries overnight too. The EU factory PMI contracted its least in 27 months, but their services PMI retreated a bit more. In India, both of their PMIs stayed very expansionary. In Japan, there was a "return to growth" in April. In Australia, the new order components are rising but most other aspects are not. Election uncertainty may be playing a role here.In China, they said they will issue ¥1.3 tln (NZ$300 bln) in ultra-long-term special government bonds starting today (Thursday). Some of that liquidity will be used to fund consumption incentives as they try to speed their shift away from export dependency.Coal prices hit a four year low yesterday as warm autumn weather in Asia, and lower industrial demand is being swamped by high output. Prices are now back to where they were in 2016. Rising supply and stunted demand is having the same price impact on oil.Global financial stability regulators are increasingly worried about the resilience of the financial sector, and have issued a warning about the consequences of dodgy and capricious public policy.The UST 10yr yield is now at 4.38%, down -2 bps from this time yesterday.The price of gold will start today at US$3282/oz, and down -US$116 from yesterday.Oil prices have fallen -US$2.50 from yesterday to be now just over US$61.50/bbl in the US and the international Brent price is now just on US$65.50/bbl.The Kiwi dollar is now at 59.6 USc, down another -20 bps from yesterday at this time. Against the Aussie we are down -10 bps at 93.6 AUc. Against the euro we up +30 bps at just on 52.6 euro cents. That all means our TWI-5 starts today still just at 68 and unchanged from yesterday.The bitcoin price starts today at US$93,933 and up +2.7% from this time yesterday. Volatility over the past 24 hours has again been modest at +/- 1.8%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And because tomorrow is the Anzac Day holiday, we will do this again on Monday.

BURNING ISSUES
Burning Issues

BURNING ISSUES

Play Episode Listen Later Apr 23, 2025 110:03


Review and analysis of pertinent national issues in Twi

Economy Watch
Bessent cheerleading not based on anything

Economy Watch

Play Episode Listen Later Apr 22, 2025 4:53


Kia ora,Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news reality and expectations seem to be diverging.But first up today we can report that the weekly dairy Pulse auction for SMP and WMP brought little-change in the WMP price from the previous full GDT auction in USD, while the SMP price rose +3.0% on that same basis, but basically a recovery. However things are reversed in NZD due to the weaker greenback, with the WMP price falling -1.4% and the SMP price only up +1.7% in our currency.Internationally, the IMF warned that rising US tariffs are marking the start of a new global era of slower growth. Since January, sweeping import duties and retaliation are raising trade barriers to levels not seen since the Great Depression. The IMF cut its global growth forecast for 2025 to +2.8% from +3.3%, and sees continued weakness through 2026. The US will be among the hardest hit, with 2025 growth cut to +1.8% from +2.7%. Others like Mexico, Canada, China, and the EU will feel some effects but are likely to be minor compared to the US.Meanwhile, the US Treasury Secretary has told a private meeting the tariff war is unsustainable and will ease 'soon'. News of these remarks has led to a financial market rally. The problem remains however as neither Trump or China show any signs of backing down, and Bessent himself admitted that talks to de-escalate haven't even started. Markets might be getting ahead of themselves, as is Bessent.In the US, the Redbook retail impulse monitor was up +7.4% last week from the same week a year ago, the highest since the end of 2022. But this is becoming more of a measure of inflation than real sales activity as the tariff-taxes get passed through.The Richmond Fed's factory survey for the mid-Atlantic states reported weak results. It plummeted to -13 in April from -4 in the previous month, and well below market expectations. It is the sharpest decline in factory activity since November. Meanwhile their service sector gauge fell too.The latest and large US Treasury bond auction saw less support, but more than sufficient. However the median yield fell back to 3.74%, compared to the 3.94% at the prior equivalent event a month ago.Canadian producer prices rose +4.7% in the year to March, but they are rising at a quicker pace in recent months. Canada is in its final week of election campaigning.Across the Pacific, Taiwanese export orders rose to the elevated level of US$53 bln in March, but they have been doing this for so long now that the year-on-year gain isn't special for them, 'only' up +12.5%.In the EU, consumer sentiment fell more than expected in April to its lowest level since November 2023.The UST 10yr yield is now at 4.39%, a -1 bp dip from this time yesterday. The price of gold will start today at US$3398/oz, and down -US$19 from yesterday.Oil prices have risen +US$1 from yesterday to be now just under US$64/bbl in the US and the international Brent price is now just on US$67.50/bbl.The Kiwi dollar is now at 59.8 USc, down -20 bps from yesterday at this time. Against the Aussie we are up +10 bps at 93.7 AUc. Against the euro we up +20 bps at just on 52.3 euro cents. That all means our TWI-5 starts today now just on 68 and little-changed from yesterday.The bitcoin price starts today at US$91,488 and up +5.4% from this time yesterday. Volatility over the past 24 hours has again been moderate at +/- 2.6%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

BURNING ISSUES
Burning Issues

BURNING ISSUES

Play Episode Listen Later Apr 21, 2025 110:02


Review and analysis of pertinent national issues in Twi

Economy Watch
The Trump disaster keeps getting worse

Economy Watch

Play Episode Listen Later Apr 21, 2025 7:47


Kia ora,Welcome to Tuesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news that gold is rising, being the 'last man standing' as a perceived safe-haven asset. And American bond funds are having a moment, a negative one. Outflows are continuing, building selling pressure at the rate of about US$10 bln per week and have done so for the past five weeks now.The position of the US dollar and US Treasuries are being directly undermined by the US president. He and his advisers have been raging about the role of the Fed boss. If he tries to remove him, expect a larger market reaction, especially from the bond market. But so far it is all bluster.But first, it will be a short, truncated week post-Easter with just three business days until Frida's ANZAC Day holiday. Our March export results are one of the few data releases. We will also get an update this week from the RBNZ's six-monthly credit condition survey.Internationally, we will get the start of the March 'flash' PMIs for April. Wall Street will continue with its early earnings season results, dominated this week by big tech. US durable goods orders for March, and confidence survey results for April are also due for release this week.Over the weekend China left its key lending rates unchanged for the sixth consecutive month in April. After that, the yuan rose as did the Hong Kong and Shanghai stock exchanges. Expectations for a reserve ratio cut to boosrt bank liquidity are mounting there.China ramped up its budget spending in the first quarter at the fastest pace since 2022, allocating nearly 22% of planned outlays to counter weakening foreign demand amid an ongoing tariff war. The move is part of a broader strategy to boost domestic demand and support industries hit by trade tensions.Earlier they said foreign direct investment into the country is struggling again. In January it was down -14% from a year ago to ¥13.4 bln in the month. It rose to ¥16.6 bln in February. a +16% year-on-year gain. But it March it was only ¥6.9 bln, a -45% drop from from the same month a year ago. China prefers to look at this data "year-to-date" but that masks the current weakness.Japanese CPI inflation stayed high in March although it did slip to 3.6%, and the second consecutive decrease and the lowest of 2025.Across the Pacific, the US dollar has fallen to a three year low. Sentiment is being undermined by the Trump attacks on the US Fed. And it seems pretty clear that the US in now in a tariff-tax recession. Not only is the Atlanta Fed's GDPNow signaling a -2.2% economic contraction, the blue chip 'consensus' forecasts are now showing up with contraction forecasts too. And the spread into investors funds is happening rather quickly now. 90 of the top 100 best-performing exchange-traded funds of last year are down in 2025, with an average loss of -13%, according to Bloomberg Intelligence.American new housing starts unexpectedly dropped -11.4% in March from February to an annualised rate of 1.324 mln, the lowest level in four months and virtually the same as the same month a year ago. But the expectation is that these will fall from here as new-builds get much more expensive from the tariff-tax effect.US initial jobless claims came in at 220,000 last week, an increase although less of an increase than seasonal factors would have anticipated. But that puts them +5.1% higher than year-ago levels.Diving even more is the Philly Fed's factory survey in the heartland Pennsylvania manufacturing rust belt. This is the icon region the tariff-taxes are supposed to save. But they aren't feeling any benefit - although hardly surprising to everyone but MAGA zealots. New orders dropped to pandemic levels, and apart from the pandemic, the overall sentiment has seen its fastest and steepest drop since these survey records started in the 1970s.In Canada, they are a week away from their federal election (Monday, April 28, 2025 Canadian time). The polls are tightening but the incumbent Liberal Party still holds a comfortable lead over the Conservatives. Likewise in Australia, their federal election is in the week after that. Polls there also show a comfortable lead for the incumbent Labor Party. In both cases, the conservative forces are undermined by the toxic Trump effect. But on the other side, the Labor Party is wavering in some key heartland Sydney seats, hurt by "the Gaza issue".In Europe, they are in a better position to cut interest rates because they also don't have the inflation pressures the US has. And they have. The European Central Bank cut its policy interest rates by -25 bps on Thursday, as expected, marking the sixth consecutive cut since June and bringing the key deposit rate down to 2.25%. They say their disinflation process is progressing well and they have now dropped previous references to a "restrictive" policy stance. They also say that their growth outlook has worsened from the escalating trade tensions.On Thursday, Australia released its March labour market data and there was a good +33,000 rise in new jobs, bouncing back from the February drop. The March data saw the increase evenly split from an increase in full-time jobs and part-time jobs. Their jobless rate unchanged stayed at 4.2%. There are +308,000 more people employed in Australia over the past year, a rise of +2.2%. The UST 10yr yield is now at 4.40%, up +7 bps from this time Saturday. Wall Street is taking it on the chin in its Monday session, down a very sharpish -3.1% on the S&P500, and staying down. The Nasdaq is down -3.6%, the Dow down -3.3%, so a broad retreat. The price of gold will start today at US$3417/oz, and up +US$90 from Saturday.Oil prices have fallen (in USD), down -US$1.50 from Saturday to be now just over US$63/bbl in the US and the international Brent price is now just on US$66/bbl.The Kiwi dollar is now at 60 USc, up +60 bps from Saturday at this time and its highest in six months. Against the Aussie we are up +50 bps at 93.6 AUc. Against the euro we unchanged at just on 52.1 euro cents. That all means our TWI-5 starts today now just under 68 and its highest since mid December.The bitcoin price starts today at US$86,811 and up +2.6% from this time Saturday. Volatility over the past 24 hours has again been moderate at +/- 2.2%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Geek Freaks Headlines
Darth Maul Returns in New Animated Series 'Shadow Lord' Coming to Disney+

Geek Freaks Headlines

Play Episode Listen Later Apr 18, 2025 0:52


One of the most menacing and magnetic figures in the Star Wars universe is back. At Star Wars Celebration 2025 in Tokyo, Lucasfilm revealed Star Wars: Maul – Shadow Lord, an all-new animated series heading to Disney+ in 2026. The show will bring back Sam Witwer as the voice of Darth Maul, marking another chapter in the character's legacy that stretches from The Phantom Menace to Clone Wars, Rebels, and even Solo: A Star Wars Story.A Darker Chapter in Maul's SagaShadow Lord picks up after the events of The Clone Wars, exploring Maul's return to the shadows as he rebuilds his criminal empire on a remote planet still untouched by the Empire's grip. According to footage shown at the Lucasfilm Animation panel, this is not a redemption arc. This is Maul at his most cunning and brutal—still burning with rage and ambition.The clip shown in Tokyo sets the tone clearly: gritty and intense. We see Maul leading a prison break to rescue a Force-sensitive Twi'lek, whom he offers to train. The scene closes with a flurry of lightsaber combat as Maul cuts down multiple enemies with ruthless efficiency. The animation leans darker in tone and palette, clearly setting this series apart from previous entries.The Return of Sam WitwerFans of Clone Wars and Rebels will be thrilled to see Sam Witwer return as Maul. His voice performance has been integral to the character's transformation from silent assassin to tragic antihero. Witwer's ability to convey Maul's internal torment and calculating menace has made the character one of the most layered villains in Star Wars canon.A New Era for Star Wars AnimationShadow Lord arrives at a time when Lucasfilm Animation is doubling down on character-driven stories. This series promises to delve into Maul's psychology, power struggles, and his role in the criminal underworld. It's not about galactic conquest. It's about survival, manipulation, and control.With Star Wars: Maul – Shadow Lord set to launch in 2026, fans can expect a thrilling, emotionally charged series that finally gives Maul the center stage he deserves.

Star Wars Loose Canon
The Kenobi Timeline Pt. 6 with the Brothers Krynn

Star Wars Loose Canon

Play Episode Listen Later Apr 16, 2025 99:39


The Brothers Krynn come back on the pod to share their fan fiction idea, The Kenobi Timeline. Inspired by the Legends novel, Secrets of the Jedi, the story follows the what-if scenario of Obi-Wan and Obi-Wan's lover, Siri secretly having a child. From there events unfold unexpectedly, especially with lesser-known companions of Anakin and Obi-Wan who are the focus of the narrative. Each of these characters has a fully fleshed-out backstory with motivations that weave into but never contradict the events of the Prequels.  Want more energy and essential vitamins for your day but want to limit your caffeine intake? Visit https://www.magicmind.com/swlc to get up to 48% off with my code:  SWLC20 As you listen along, you can refer to the character glossary provided by the Brothers Krynn:  Tahlon Kenobi: son of Obi-Wan Kenobi and Siri Tachi (Kenobi), Wields a double-sided Blue lightsaber, his style is Form IV (Ataru variant) Talanis Salazzar: Mandalorian warrior woman, 5 years older than Tahlon. Number one Mandalorian bounty-hunter after Jango Fett Darael Feran: Trandoshan Jedi Master, Wields double-sided Green lightsaber, his style is Form III (Soresu variant), Melirah Stardust's master before leaving the order to join the Jedi, who chose to leave to work with Dooku in the CIS Melirah Stardust: A young Jedi, same age as Anakini with Red hair, born on Tattooine to a Moisture Farmer, she is hot-headed, yet dreams of being a healer. She was Darael Feran's padawan. She is the most gifted seer of her generation. Her style is Form VI (Jar'Kai) (Form IV Ataru Variant) Her right-handed lightsaber is yellow, her left-handed one is blue Mi'kraan Darklighter: A young Jedi, born on the same day, same hour as Melirah, though the two are not related, they share a bond with each other. She is tall and blonde haired, statuesque, the more beautiful of the two. A gentle soul who specializes in diplomacy and teaching younglings. She dislikes violence in all its forms, and has requested to resign her military position, but has been refused. A favourite of Yoda. Her style is Form VI (Jar'Kai) (Form III Soresu variant) Her right-hand lightsaber is Green, her left-hand is Yellow Fergus Feld: One year older than Anakin, a personality like Sturm Brightblade (Dragonlance), is fanatically loyal to the order, and a good friend of Tahlon. He does not trust Anakin and thinks he will turn to the darkside, and in extension dislikes Obi-Wan, a favourite of Yoda, who was abused by his master, Yaduu. His lightsaber style is Form V, and Form VII (Shien/Djem-So and Juyo) his lightsaber colour is blue Grrwyan: A wookie Jedi Tahlon grew up with. He dislikes Tahlon. His style is Form V (Shien/Djem-So) His lightsaber colour is Blue Ivec'leba: A twi'lek initiate Tahlon grew up with, she was sold into slavery, and liberated by Millennia Far'lin. She dies in Tahlon's arms when he is an initiate Jedi Master Chirus: A half-Blind Solustan jedi, who exposed his previous padawan's affair with another jedi, which led her to commit suicide, which traumatized. He later becomes Tahlon's master, and is three years older than Dooku. He dies on Geonosis. His apprentice was a young woman by the name of Yasmina Shen. Her former lover fled with her child to the outer rim, and founded a Jedi cult which her widow and son will end up fighting in the clone wars on the side of the Republic, as Chirus made peace with him three years before he died. Chirus' style is Form VI (Niiman) His colour is Green. Millennia Farland: The daughter of a deceased freedom fighter of Ryloth, Millennia picked up his torch and his movement to liberate all the Twi'leks from the Hutts and the Exchange, she has since become the Senator of Renkloth. (We set the planet in the neighbouring star system next to Ryloth.) She is a firebrand, who is friends of Tahlon, hates the Hutts and consistently pushes for Republican interference in twi'lek affairs, and has become disillusioned with the Senate. She is also given a military commission for the Grand Army of the Republic. Alpha Squad: Tahlon's personal Commando unit. They consist of RC-1515 “Quinze” (Leader), RC-9888 “Zuko” (Demolitions), RC-0109 “Nate” (Weapons) and RC-2898 “Wyatt” (Tech Specialist) RC-1515 “Quinze”: The leader of Alpha Squad, he has a sardonic sense of humour, similar to that of Qui-Gon Jinn. He is also strict, and at times inflexible, and is very shy around beautiful women. He is force sensitive. RC-9888 “Zuko”: The Demolitions expert of Alpha Squad, he is argumentative, severe, who complains a lot, and has a bit of a temper. He is always arguing and fighting with Nate, and yet the two consider each other almost twins. RC-0109 “Nate”: The weapons expert: He is chatty, gabby, cheerful and friendly. Nate loves heavy-grade weaponry. He considers his voice a gift from the force. He also loves show tunes and pretty women. RC-2898 “Wyatt”: The Tech specialist, he is sarcastic, a little vain about his appearance, he has a superiority complex in regards to his IQ, and is the quiet member of the team, even as he considers himself a connoisseur of fine arts and pop stars. ARC-Commander 1139 “Hale”: Commander of the 339th Legion, he serves as Mi'kraan's clone commander. Where she dislikes violence, he revels in it. He is cold and calculating, and a General of the highest quality. He was one of the top graduates from Kamino in strategy and tactics. ARC-Commander 3615 “Boom”: Commander of the 431th Legion. Tahlon's clone commander, his solution to every problem is explosives, bombardment, and even more explosives. He is very good friends with Nate and Zuko. He is fairly cheerful by nature. ARC-Commander 1238 “Krath”: Commander of the 436th Legion. One of the most bloodthirsty clone commanders, and is absolutely ruthless. He believes in no mercy, and has a belief system akin to Canderous Ordo, except he scorns the disloyal and self-serving Mandalorians, and thinks that Clones are superior to them, as he does the Jedi, whom he holds in high regard. He is Melirah's clone commander. ARC-Commander 1138 “Crusher”: Commander of the 189th Legion. Another ruthless clone commander with a cold and impatient side, who believes people have to win his respect, as he hates incompetence, and has no patience for fools. He is the finest clone commander in the galaxy. He serves under Fergus, and has been lauded by Mace Windu. CT-1159 Sergeant “Muln”: A rambunctious, duty-obsessed starfighter pilot in the Republic Navy, he serves under Melirah, and is a quick shot, and impulsive pilot. He is named after Garen Muln, the finest pilot in the galaxy.  Darin Pol: A Kel-Dor Martial Artist and security officer who volunteers for the navy, and is put in Melirah's Legion. will continuously reference Justice. He is wise, and the sworn brother of Sergeant Muln Darth Malignus: A Sith Knight trained by a Sith cult that swears itself to Count Dooku and the CIS, he is the top warrior of the cult, and is from the planet Sorrus. His lightsaber is the sith variant of Form VI (Jar'Kai, Form V Shien/Djem-So variant,) He is very much inspired by Dinobot from Beast Wars.

Economy Watch
Powell warns of 'challenging scenario'

Economy Watch

Play Episode Listen Later Apr 16, 2025 6:51


Kia ora,Welcome to Thursday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news gold has taken off, hitting yet another new all-time record high as fear stalks markets today and risk is definitely 'off'. But the NZD is rising. As we publish, markets are moving quickly so this snapshot will date just as quickly.But first in the US, mortgage applications fell -8.0% last week from the same week a year ago, with the refinance component down a rather sharp -12% on the same basis. These retreats came as benchmark mortgage rates rose +20 bps from a week agoA rush to buy cars ahead of the April tariff taxes delivered a boost to March retail sales that was even more than expected. Without those car sales, March retail was barely improved, and that does not adjust for price inflation so in volume terms, core retail sales are declining now. That trend will have global implications.American industrial production rose +1.3% from a year ago and this does adjust for price changes, so a small improvement. But it did shrink in March compared to February.Sentiment by American house builders was little-changed in March from February, but it is -21% lower than a year ago, and -13% lower than two years ago. In fact, excluding the pandemic, you have to go back to the GFC to find it this poor in a March month. That is not good because it is the start of their Spring selling season. Survey results show that tariff taxes are not being paid by importing countries, rather by the builders at this stage. As profits dive, that will be passed on to buyers next.There was a US Treasury 20 year bond auction earlier today and demand was slightly lower so the median yield rose to 4.75%. That is a rise from the 4.59% at the prior equivalent event a month ago.Fed boss Powell was talking earlier today, saying that tariffs pose a real challenge to meet their dual inflation+jobs mandates. Inflation pressures are here now which argues for rate settings to rise, while economic growth is expected to leak away soon hurting jobs, arguing for a rate cut. He said they will "wait for greater clarity" to see where the dominant pressure comes from.These comments were not the magical thinking equity markets wanted to hear, and the realities of what faces the US economy has seen Wall Street pull back today. The Nasdaq is down -3.9%, the S&P500 down -2.8%. The Dow is down -1.8%. Gold is the safe-haven parking lot.In Canada, they are also waiting. Rather than continue with their rate cut track, the Bank of Canada has paused that track, keeping its policy rate at 2.75% as they too watch inflation rise and economic activity leak away. Interestingly, the TSX is only down -0.3%, hit far less than Wall Street.Across the Pacific, Japan's February machinery orders rebounded sharply, rising well above market expectations for a modest +0.8% increase to its highest level in a year. Manufacturing orders rose +3%, while non-manufacturing orders jumped +11.4%. This rise matches the separate machine tool order data for March which was also up sharply. And these first see prosperity ahead; The Reuters Tankan sentiment index rose sharply in April. But the same firms surveyed were gloomy for the months further out in 2025.China claimed its economy grew at a +5.4% rate in Q1-2025 (real), the same rate as for Q4-2024. They said retail sales were up +5.9% (nominal) in March from a year ago, better than the +4.0% in February and the best rise since December 2023 which benefited from a low base. They also said industrial production was up +7.7% (nominal) in March, far better than the +5.6% expected and far better than the +5.9% February gain. Electricity production was only up +1.8% (real) year on year in March, so either they are making spectacular energy efficiency gains, or something other than electricity powers their industry, or something doesn't add up. Anecdotal reports from many regions don't paint quite the picture these official stats paint.Meanwhile, Chinese new home prices in March edged lower from February, but there are range of changes in the 70 top Chinese cities. Still only Shanghai shows a year-on-year gain. Among the same cities, none show any gain for resales of existing houses and some declines are now as much as -11% (Jinhua, 7 mln population, and Tangshan, 7.7 mln).The UST 10yr yield is now at 4.27%, down another -6 bps from this time yesterday. The price of gold will start today sharply higher at a new record of US$3337/oz, and up +US$108 from yesterday or +3.3%.Oil prices have firmed marginally, up +50 USc from yesterday to be now just over US$62/bbl in the US and the international Brent price is now just over US$65.50/bbl.The Kiwi dollar is now at 59.3 USc, up +20 bps from yesterday at this time and still the highest since mid-December. The fall of the USD embeds. Against the Aussie we are unchanged at 92.9 AUc. Against the euro we down -40 bps from yesterday at just on 52.4 euro cents. That all means our TWI-5 starts today now just on 67.6 and unchanged from yesterday.The bitcoin price starts today at US$83,854 and holding again, down less than -0.9% from this time yesterday. Volatility over the past 24 hours has again been modest at +/- 1.3%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. This podcast will take a break over the Easter holiday weekend and we will do this again Tuesday.

BURNING ISSUES
Burning Issues

BURNING ISSUES

Play Episode Listen Later Apr 16, 2025 110:02


Review and analysis of pertinent national issues in Twi

Economy Watch
The tariff war skirmishes get messy

Economy Watch

Play Episode Listen Later Apr 15, 2025 6:00


Kia ora,Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the gears of the global economy are grinding disconcertingly as the unnecessary trade war is prosecuted with little strategy and no apparent viable end game.But first up today, the latest full dairy auction brought an overall rise of +1.6% in USD. However, the fall and fall of the USD has completely undermined this result, with prices in NZD falling -2.1%. In USD all categories except SMP rose, and demand was strong from "North Asia" (ie China). Milk fats were in demand, while global milk supply is waning in the major producers, underpinning the demand. Pity about the currency effect.Inflation is showing up in the retail trade in the US, with the weekly Redbook index up +6.6% from the same week a year ago. There is no way that reflects a volume riseBusiness activity continued to fall in March in the New York Fed's factory survey in the New York state. New order levels extended their decline/In Canada, their CPI inflation rate eased lower to 2.3% in March. That is after the eight-month high of 2.6% in February. The March result was tamer than expected (2.6%) and below forecasts by the central bank of 2.5%. It comes after some GST and other tax changes earlier have now been flushed through their data. The Bank of Canada next meets to review its official policy rate later today, but it will be the economic impact of their unfriendly neighbour that will dominate policy, rather than current inflation. They will likely hold off making rate changes for now, keeping the 2.75% policy rate. That is a change from the earlier expected cut.Canadian housing starts came in weak in March, down more than -11% from the same month a year ago.India CPI inflation rate fell in March to 3.3%, its lowest since 2019. Food price inflation fell to 2.7%. Both were much lower than expected and well below the central bank's policy rate mid point of 4%.Indian exports rose sharply in March from February in the normal seasonal pattern. Their imports rose even more so their trade deficit grew from the prior month, although only back to its usual level.In China, they are cancelling their orders for Boeing aircraft, a blow to the US aircraft industry.In February, EU industrial production rose, a surprise gain and the best monthly gain in two years.But that wasn't an indicator for economic sentiment. The latest ZEW survey reveals a sharp deterioration as they watched the US turn away from friend to foe, making them feel boxed in between the US and Russia. It was a shift reminiscent of the uncertainty during the pandemic.And it seems that trade talks between the US and the EU are making "litte" (ir no) progress.In Australia, the latest release of the RBA minutes was a dull affair, giving little guidance on how they are going to deal with the trade and inflation challenges. It's all 'wait-and-see' and 'respond-to-data' for them. But they do claim to be in a good position to be able to act decisively if it is needed. A cut on May 20 is still possible however.OPEC's latest monthly review lowered its demand outlook, although some observers thought the smallness of the cutback was brave in the circumstances.And we should also note that there are now three elections due soon. Canada goes to the polls on April 28. Australia votes on May 3. And now a snap election has also been called in Singapore, also for May 3. Being Singapore, that unsurprisingly leaves very little time for campaigning. All these elections will have the Trump shadow hanging over them, and it very much helps campaigning to present an anti-Trump stance. Trump has resurrected the fortunes of the centre-left candidates, enough to cancel the anti-incumbent mood.The UST 10yr yield is now at 4.33%, down another -4 bps from this time yesterday.The price of gold will start today at just on US$3229/oz, and up +US$16 from yesterday.Oil prices have firmed marginally, up +50 USc from yesterday to be now at US$61.50/bbl in the US and the international Brent price is now just over US$64.50/bbl.The Kiwi dollar is now at 59.1 USc, up +30 bps from yesterday at this time and the highest since mid-December. The fall of the USD extends. Against the Aussie we are down -10 bps at 92.9 AUc. Against the euro we up +30 bps from yesterday at just on 52.4 euro cents. That all means our TWI-5 starts today now just under 67.6 and up +30 bps from yesterday.The bitcoin price starts today at US84,616 and holding again, up a mere +0.1% from this time yesterday. Volatility over the past 24 hours has been modest at +/- 1.2%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Economy Watch
Volatility without guardrails

Economy Watch

Play Episode Listen Later Apr 14, 2025 4:45


Kia ora,Welcome to Tuesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the week started with a strong risk-on mood and equities rose on Monday in Asia, and especially in Europe. Wall Street opened with the same vibe, but lost momentum in the middle sessions, although it is returning in the later session. It's volatile.But first in main street US, the New York Fed's consumer expectations survey mirrored the other recent sentiment surveys, noting a defensive turn in the mood. Consumers' year-ahead expectations about their households' financial situations deteriorated in March, with the share of households expecting a worse financial situation one year from now rising to 30%, the highest level since October 2023. Those surveyed said they see higher inflation in a year, up to 3.6% from 3.0% in the February survey. The expectations for earnings growth fell, and for joblessness to rise. Of course, this one was taken before the heavy tariff policies hit in early April. The April update will be available on May 9 (NZT).In Washington, the Trump administration is moving swiftly to end enforcement of white collar crime, dismissing federal prosecutors involved in enforcing foreign bribery cases, crypto crime, and money laundering crime. Its open season for white collar criminals. Washington is also apparently open for far-right Russians.It is so risky to visit the US, EU diplomats are now being issued with burner phones for their visits, just like they do when visiting China or Russia.On the tariff front, exemptions are coming for car parts, new tariffs for pharmaceuticals. The common thread is bolstering profits for campaign supporters. Need a favour? Go to Washington with money for Trump.In Canada, their central bank is about to review its monetary policy settings. It was on a rate cutting track, but is now more likely to leave its policy rate unchanged given the inflationary threats from the trade war.In China, their exports surged by +12.4% in March to US$314 bln, far above market forecasts of +4.4% rose and accelerating sharply from a +2.3% rise in the January–February period. It marked the fastest increase in overseas sales since last October, driven by the urgent frontloading before the American tariffs took effect. Since November when talk of tariffs first became a credible risk, the rise of Chinese exports has been exceptional. Meanwhile, March imports fell -4.3%. As a consequence, China's merchandise trade surplus has hit record levels in 2025.We exported +13% more to them in Q1-2025 from a year ago, and imported -5% less. Australia exported -29% less, and imported -5% less, for comparison.The UST 10yr yield is now at 4.37%, down -13 bps from this time yesterday. The price of gold will start today at just on US$3213/oz, and down -US$23 from yesterday.Oil prices have dipped -50 USc from yesterday to be now at US$61/bbl in the US and the international Brent price is now just under US$64.50/bbl.The Kiwi dollar is now at 58.8 USc, up +½c from yesterday at this time and the highest since mid-December. The fall of the USD extends. Against the Aussie we are up another +20 bps at 93 AUc. Against the euro we up +60 bps from yesterday at just on 51.9 euro cents. That all means our TWI-5 starts today now just on 67.3 and up +40 bps from yesterday.The bitcoin price starts today at US$84,546 and holding, and down a mere -0.3% from this time yesterday. Volatility over the past 24 hours has been modest at +/- 1.6%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Economy Watch
Even for Trump, this is a weird flip-flop

Economy Watch

Play Episode Listen Later Apr 13, 2025 9:12


Kia ora,Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news things are turning sour in the trenches of the US economy - for consumers, many non-prime corporate borrowers, and even investors in some local manufacturing they did at the behest of Trump.But first in the week ahead our news will be dominated by the March quarter CPI release on Wednesday. Japan, India and the UK will also release inflation updates this week. The central banks of Canada, the ECB, Turkey and Korea will be re-assessing their monetary policy settings, and obviously they will focused on how the global tariff war by the US will affect them, and the role monetary policy can play to mitigate the coming negative influences.China will report its Q1-2025 GDP result, and Germany will report any changes in economic sentiment.On Wall Street, the Q1-2025 earnings season will kick off and reports from the major financial institutions will come in early. There will be a lot of attention on them, especially if they start to report a bumpy ride from the economic uncertainty.However, the big news over the weekend is that China is standing its ground. Beijing raised tariffs on American imports to 125% on Friday, hitting back against Trump's decision to hike duties on Chinese goods to 145%, and raising the stakes in the trade war. They repeated the "fight to the end" rhetoric, also saying they will "counterattack". "Even if the US continues to impose higher tariffs, it will no longer make economic sense and will become a joke in the history of world economy. At the current tariff level, there is no market acceptance for US goods exported to China."On immediate consequence of all this is that investors are turning away from the US dollar as a safe haven. And perhaps turning away from US Treasuries too.Equity markets seem to be ignoring a sharp change in US consumer sentiment. The University of Michigan survey plunged in April to its lowest level since June 2022 and well below what was anticipated. That's the fourth straight month of pullback, and this survey is now more than 30% lower since the November 2024 election. It is signaling growing worries about trade war developments that have oscillated over the course of the year.American consumers report multiple warning signs that raise the risk of recession: expectations for business conditions, personal finances, incomes, inflation, and labour markets all continued to deteriorate this month. The gauge for current economic conditions fell along with the component measuring expectations which is now at its lowest since May 1980. Meanwhile, year-ahead inflation expectations surged to 6.7%, the highest reading since 1981, from 5% in March. The five-year inflation expectations gauge edged up to 4.4% from 4.1%.To mitigate some of that, Trump cancelled his tariffs as they affect mobile phones, their components, computers and other electronics. Even for Trump, this is pretty odd. It is now very much cheaper to import iPhones and the like from China than make them in the US. There will be many investors, especially those who have started building out US manufacturing facilities at the behest of Trump, who are likely to be a touch unhappy with this flip-flop and they still have to pay 145% tariffs on their imported parts. Clearly Trump has zero idea about how tariffs work, although that is not news. Commerce Secretary Lutnick added confusion in a weekend interview saying the tech tariff cancellation will be temporary.Meanwhile, March producer price inflation in the US actually eased to 2.7% its lowest in five months, aided by a sharp drop in energy costs. Without those fuel cost drops, the index would have risen slightly to 3.3%.There are signs that lending activity is tightening sharply in the US. For two weeks, there have been no - zero - high yield leverage loans for corporates in the US. The funds making these loans are having sharp investor outflows, and banks have become quite risk averse. A credit crunch is underway for most non-prime borrowers. If it extends, there will be real trouble.In Canada, not only are they rejecting American products and travel options now, a new trend is that they are net sellers of US real estate they had as holiday homes.India released February industrial production data over the weekend and that showed growth decelerated sharply to +2.9% from a year ago, down from an upwardly revised +5.2% in January. Markets had expected a +4.0% rise in February, so this is a big miss and is the weakest expansion since August.In China, their March new yuan loans came in at +¥3.6 tln, sharply higher than the +¥1.0 tln in February and slightly more than anticipated. New bank debt support is flowing as they intend, but to be fair it isn't overly different to the usual seasonal pattern. It is even less that the record March new-debt flows in March 2023 of +¥3.89 tln, but it is the second highest March level ever, and +17.8% more than March 2024. Foreign currency lending dived -34% however.China's vehicle sales jumped in March from February to 2.9 mln units, but the near-term change is distorted by the Chinese New Year holiday period. NEVs rose to 1.2 mln of those units, now 42% of all sales. They seem to be on target to sell almost 33 mln vehicles in 2025, almost double the level in the US.Meanwhile, State-linked Chinese funds (the 'home team') stepped in to rescue Chinese stocks last week. But it's an expensive exercise, involving more than ¥7 tln so far and likely to have to go up much more than that. China's own credit crunch is coming at some point, but they can put it off a while yet.Separately, China is also battling unusually cold weather at present with much travel in the north cancelled.In Europe, German CPI inflationcame in at 2.2% in March (2.3% on an EU harmonised basis), slightly lower than in February, and lower than expected. Food prices were up +3.0% and the price of services were up +3.5%. It is also falling energy costs that are keeping a lid on their inflation.Coal and steel prices are falling, with the coal price now down to a level it first achieved in 2016.The UST 10yr yield is now at 4.50%, up +1 bp from this time Saturday.The price of gold will start today at just on US$3236/oz, and up another +US$2 from Saturday, and yet another new record high. That is up +US$217 or +7.1% from this time last week.Oil prices are unchanged from Saturday to be holding at US$61.50/bbl in the US and the international Brent price is now just over US$64.50/bbl. These are the same levels we had a week ago.The Kiwi dollar is now at 58.3 USc, up +10 bps from Saturday at this time and the highest since mid-December. A week ago it was 55.6 USc so a mammoth +270 bps appreciation or +4.7%. Against the Aussie we are up +20 bps at 92.8 AUc. Against the euro we down -10 bps from Saturday at just on 51.3 euro cents. That all means our TWI-5 starts today now just over 66.9 and up marginally from Saturday, up +130 bps from a week ago.The bitcoin price starts today at US$84,792 and firming, and up +1.2% from this time Saturday. Volatility over the past 24 hours has been modest at +/- 1.3%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Economy Watch
Wall Street cancels tariff optimism, resumes selloff

Economy Watch

Play Episode Listen Later Apr 10, 2025 7:05


Kia ora,Welcome to Friday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news equity markets have cancelled yesterday's relief rally.But first in the US, initial jobless claims rose last week to 215,000, +7.7% higher than the week before, but identical to the same week a year ago. There are now just under 2 mln people on these benefits, up slightly from the 1.93 mln a year ago.US CPI inflation fell to 2.4% in March, its lowest level since February 2021. Because this was data taken before the tariff chaos, it seems this may be the low point for the foreseeable future. Food was up +3.0% and rents were up +4.0%. Medical care was up +3.0%. However petrol prices restrained the overall rises, down -9.8%. Very low oil prices will keep a lid on the total even if other living costs rise much faster.Today's UST 30 yr bond auction was well supported, but the median yield came in at 4.73%, up from 4.56% at the equivalent event a month ago.The US government reported a budget deficit of -US$161 bln in March, a -32% decrease from the previous year, largely due to a calendar shift in benefit payments. Despite this monthly decline, the broader fiscal picture remains concerning, with the US Treasury reporting a -US$1.3 tln deficit for the first half of fiscal 2025, a +23% rise from the previous year. This marks the second highest deficit for the first six months of any fiscal year, trailing only the -US$1.7 tln gap in fiscal 2021. Tax cuts for the rich in this environment looks exceedingly irresponsible, especially if the tax rises on consumers via tariffs don't raise the outlandish sums forecasted.Just how damaged the US government agencies have become, Musk's DOGE fired all the safety regulators that oversaw Tesla.The April USDA WASDE report out overnight shows that US corn inventories are lower than expected. Beef exports are expected to fall on retaliatory tariff actions against the US and beef imports are expected to be lower too for the same tariff reason. The net result seen in lower prices for US producers. Lower prices for US milk producers too as exports shrink. US farmers will be net losers from the tariff hostilities.Across the Pacific, Japanese producer inflation is rising, now its highest since mid-2023. Producer prices there rose +4.2% in March from the same month a year ago, above market estimates of 3.9%. It was their 49th straight month of producer inflation, with cost rising further for most components.Taiwanese exports surged again in March, up +18.6% from a year ago and a record high for any month. A +8.5% rise was expected. That is two consecutive months of outsized expansion. April tariff actions may well affect this impressive result going forward, but if US customers have no alternative sources, the tariff taxes will fall on the buyer.In China, they not only have to fight off the US tariff policies, they have a resurgence of domestic deflation issues. Their March CPI fell -0.1% when a +0.1% was anticipated. Their PPI fell -2.5% when a -2.3% retreat was anticipated. On the consumer price front, food prices are -0.6% lower than a year ago, of which beef prices fell -10.8% and lamb -5.4%. Milk prices fell -1.7% on the same basis. They want to shift to a consumer-based society, but in the meantime their existing export sector is going to take major hits which will affect consumption, and there seems little upside to consumer demand in the current circumstances. Their "over-capacity" is going to expose them. You wonder if they have any more appetite for capitalism's "creative destruction" than Western economies, who have proven to have virtually none.And staying in China, Beijing's drive to turn its economy into a consumption-led one relies of Chinese consumers spending and buying. But the evidence is that they are as spooked by the trade war as anyone and have turned consumption-shy.In March Australian inflation expectations fell to 3.6%, a four year low. But in April they jumped back up to 4.2% underscoring the ongoing uncertainty surrounding their domestic economic outlook and inflation trajectory in the face of fallout from the tariff war. Given they have both a jobs, and an inflation mandate, the RBA is in for a tricky period ahead with its policy choices.Container freight rates rose +3% in the past week to be -23% lower than a year ago. Basically trans-Pacific rates firmed slightly while trans-Atlantic rates eased. Bulk freight rates fell a very sharp -21% in the past week to be -20% lower than year ago levels.The UST 10yr yield is now at 4.40%, unchanged from this time yesterday.Wall Street is currently down -3.4% on the S&P500 in its Thursday trade as the tariff-pause relief rally runs out of puff in the face of realities and reverses. The price of gold will start today at just on US$3162/oz, and up another +US$92 from yesterday.Oil prices have fallen -US$2 from yesterday to be just under US$60/bbl in the US and the international Brent price is now just on US$63/bbl.The Kiwi dollar is now at 57.4 USc, up +120 bps from yesterday at this time and a three week high. Against the Aussie we are up +30 bps at 92.4 AUc. Against the euro we up +20 bps from yesterday at just on 51.3 euro cents. That all means our TWI-5 starts today now just under 66.5 and up +70 bps from yesterday.The bitcoin price starts today at US$79,207 and falling, and down -2.4% from this time yesterday. Volatility over the past 24 hours has been moderate at +/- 2.8%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

BURNING ISSUES
Burning Issues

BURNING ISSUES

Play Episode Listen Later Apr 9, 2025 110:02


Review and analysis of pertinent national issues in Twi

Economy Watch
Now it's the bond market's turn for pain

Economy Watch

Play Episode Listen Later Apr 9, 2025 5:14


Kia ora,Welcome to Thursday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news that past notions of safe havens have been upended, and now it is the turn of the bond market to be roiled. The cost of long-term money is rising sharply as risk premiums leap.First, China has reacted in equal measure to Trump's capricious 104% tariffs on their goods, with their own extras, a 50% retaliatory tariff. The predictions any junior could see from the known Smoot-Hawley tit-for-tat protectionism are playing out.The first to blink hasn't been the Chinese. Trump has made an about-turn and paused higher reciprocal tariffs "for 90 days" that hit dozens of trade partners just after they became effective, while raising duties on China further to 125%. This u-turn surprised markets which is having an emotional relief reaction. But any gains today will be built on sand.So we are in a period of unmoored 'policy', with all the impacts ahead of us. History tells us this doesn't end well, for anybody including us.American homeowners know what's coming, and are rushing to fix their mortgage rates before they rise unaffordably. There was a sharp +20% rise in mortgage applications last week from the week prior, with the refinance component up an eye-popping +35% and almost double the level of a year ago. Borrowers sense they may not see rates this low again for a long time.Meanwhile, at the other end of the interest rate market, US Treasury yields are leaping, which means prices are dropping and holders are taking large losses. Today's US Treasury 10 year bond auction was well supported but at notably higher yields. Today the median yield was 4.34% whereas at the prior equivalent event a month ago it was 4.27%. This is a market where participants have regulatory obligations to buy.But in the open secondary market, the effects are starker. The UST 10 year yield rose +16 bps just from yesterday. (from a month ago, up +11 bps). Volatility is a new feature of these bond markets too.There was some US wholesale inventory data out overnight, but it was for February, and these were up just +1.1% from a year ago. But of course this was from a period well before the April omnishambles.Also out today were the US Fed minutes from their March 20 (NZT) meeting, but the views in these have all been overtaken by subsequent events, so have little current relevance. But even back then they sensed threats to inflation from Washington's tariffs, with heightened concerns about stagflation.In Japan, machine tool orders jumped sharply in March driven by export orders. They were up +11.4% year-on-year for the sixth consecutive month. Domestic demand remained stableIn India, and as expected, their central bank cut its policy interest rate by -25 bps to 6.00%. They cited easing inflation, slowing economic output, and growing global trade tensions as the reasons why they cut for a second successive time.The UST 10yr yield is now at 4.40%, up +16 bps from this time yesterday. Risk premiums are growing.Wall Street is currently up +7.4% on the S&P500 in its Wednesday trade as the tariff-pause relief rally kicks in. Who knows where it will end today. The price of gold will start today at just under US$3070/oz, and up +US$91 from yesterday. Perhaps this is one commodity exhibiting traditional safe-haven attributes.Oil prices have risen +US$2 from yesterday at just on US$62/bbl in the US and the international Brent price is now just on US$65/bbl.The Kiwi dollar is now at 56.2 USc, up +70 bps from yesterday at this time. Against the Aussie we are down -80 bps at 92.1 AUc. Against the euro we up +30 bps from yesterday at just on 51.1 euro cents. That all means our TWI-5 starts today now just on 65.8 and up +20 bps from yesterday.The bitcoin price starts today at US$81,930 and rising, and up +6.1% from this time yesterday. Volatility over the past 24 hours has been very high at +/- 4.2%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Economy Watch
"America is lost"

Economy Watch

Play Episode Listen Later Apr 8, 2025 5:49


Kia ora,Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the Wall Street and business titans who supported the 2024 Trump campaign are starting to turn on him, one calling the current situation "a clown show".The show has gotten even more extreme overnight. The US has added another 50% to tariffs on its imports from China, taking the total to 104%.But first up today, the overnight GDT Pulse dairy auction saw SMP prices fall a bit more than expected, down -2.6% from last week's full auction. But the WMP price slipped much less than expected, down just -1.8% on the same basis. The falling currency over the past week means there is no net change in NZD. The floating exchange rate is doing its job as a stabiliser.In the US, nominal retail sales surged last week, up +7.2% from the same week a year ago as consumers rushed to stock up on goods ahead of the tariff-induced hikes. That was its fastest rise since late-2022. Some of that 'gain' will have been from early price hikes, of course.Going the other way, the NFIB Small Business Optimism Index fell sharply in March, by its most since June 2022 and to its lowest level since October 2024. This was a much larger fall than anyone saw coming. They anticipated a fall but not like this. The component 'uncertainty index' stayed at record high levels.Americans' appetite for consumer debt actually fell in February by -US$810 mln, the first drop since November. This followed a downwardly revised increase of +US$8.9 bln in January and came in well below the +US$15 bln rise expected. There were sharp and notable drops in demand for credit card debt, and car loan debt.The latest UST 3 year bond auction was well supported. But there was a notable -8.5% drop in total bids this time, the largest easing of support we have seen. It delivered a median yield of 3.70%, down from 3.85% at the prior equivalent event a month ago.In China, there is a notable fall in the price of iron ore, down -12.5% from the start of April. That has yet to show up in the cash USD price of Australian iron ore, but it will soon. For reference the price of copper is down -18% in the same eight days.In China, the 'home team' is stepping up to buy equities to prevent them crashing further. State funds were reported to be very active yesterday. Separately, China is letting its currency weaken as a counterweight to the American tariffs. The yuan (CNY) isn't moving much but trending from the target 7.2:USD, but this official set rate is moving in the same direction as the offshore yuan (CNH) and heading to 7.35:USD. It is now at a 17 year low to the USD. China said it will "fight to the end" opposing the new US tariffs.Australia's NAB business confidence index ticked lower in March 2025 from a revised negative level in February, and it is now at its lowest level since November 2024.Staying in Australia, the Westpac Melbourne Institute consumer sentiment survey is seeing fear rising after the Trump tariff actions. Sentiment is -10% lower among those surveyed after the earlier April US tariff announcements. Aussies are now less confident on prospect of interest rate cuts by the RBA.Internationally, the IAEA says that while there is enough uranium being mined to support nuclear energy demand for the next 25 years, more will be needed if the current high-growth plans for capacity expansion continue, and the world could run out by 2080.The UST 10yr yield is now at 4.25%, up +10 bps from this time yesterday. Risk premiums are still rising.The price of gold will start today at just under US$2980/oz, and up +US$14 from yesterday.Oil prices have dropped -US$1.50 from yesterday at just over US$60/bbl in the US and the international Brent price is now just under US$63.50/bbl.The Kiwi dollar is now at 55.5 USc, unchanged from yesterday at this time. Against the Aussie we are up +40 bps at 92.9 AUc and that's a ten month high. Against the euro we up +10 bps from yesterday at just on 50.8 euro cents. That all means our TWI-5 starts today now just on 65.6 and up +10 bps from yesterday.The bitcoin price starts today at US$77,213 and falling, and down another -2.1% from this time yesterday. Volatility over the past 24 hours has been moderate at +/- 2.6%.Join us at 2pm later today for the Official Cash Rate review, the first by newly appointed interim Governor Christian Hawkesby. A -25 bps cut to 3.50% is widely anticipated, but given the global turmoil, most of the focus will be on how they see those pressures playing out in New Zealand and how they will respond to them.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Economy Watch
Stagflation chances jump to almost a certainty

Economy Watch

Play Episode Listen Later Apr 7, 2025 5:54


Kia ora,Welcome to Tuesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news US Treasury yields are rising today on growing American recession fears may prompt investors to question the safety of US Treasuries as a haven asset. The risk premium jumped after a weekend to think about last week's yield falls.But Wall Street equities have stopped falling. They are not rising either as investors ponder what to do. But last week's sell-off is baked in. They rose after reports of a tariff pause, but fell when this was denied.Then Trump threatened China with 50% tariffs because they retaliated. Gloom returned.And EU ministers are meeting to coordinate their response, and 25% retaliatory tariffs are likely on "some goods".Everyone, except Trump (and his acolytes), can see that this mob-boss theatre will just produce a combination of recession and inflation. And the US won't be immune. The situation is an "urgent problem" for policymakers worldwide, including central banks. Ours meets tomorrow but because this is a fast developing situation, maybe it is too soon to expect a comprehensive response. It is a situation that will play out over years, but we will still want to see our fiscal and monetary policymakers working to contain the impending fallout as best they can.In Canada, their central bank's Business Outlook Survey is reporting widespread concern. Business conditions have deteriorated due to the trade conflict with the United States. Sales outlooks have softened, particularly for exporters. Firms reported having sufficient capacity, and many are delaying investment and hiring decisions amid uncertainty. Firms expect the widespread tariffs will raise costs and lead to higher selling prices. In this context, expectations for inflation are higher.China' FX reserves rose in March, but their overall reserves rose more mostly because they purchased a little more gold and that took their holdings to just under 2300 tonnes. The March gold price zoomed higher, bolstering other reserves. This may reverse sharply in April if the gold price keeps on tracking down.Away from the economic news, we probably should note that while China's overall population is in decline, not all regions are. The Pearl River Guangdong region in from Hong Kong grew by 740,000 to 127.8 million (+0.6%), and births rose by +100,000 to 1.13 mln (+0.8%) in the 2024 year. If this region was its own country, these demographic changes would be impressive. But it does highlight how fast some other parts of China are shrinking.Overall, the recent Qingming Festival (Tomb Sweeping) holiday saw 790 million cross-regional trips in China, an increase of +7.1, a record high for this holiday period.European retail sales rose +2.3% in February in the euro area on a volume (real) basis, quite a bit better than expected and its best rose since September 2024. In the wider EU it was up +2.0% and still a quite positive shift.German industrial production however was down a sharpish -4.0% in February from the same month a year ago, although to be fair the year-ago benchmark was unusually high. On a seasonally adjusted basis the decline was "only" -1.3%. German export growth is rising however.In Australia yesterday, their pre-election Budget update was released. The underlying cash deficit in the 12 months ending June 30 will be -AU$28 bln, swelling to -AU$42 bln through June 2026, they now say. That's going from -1.0% of GDP to -1.5% of GDP. "[The] escalation in trade hostilities has created significant economic uncertainty and exacerbates the risks to the economic and fiscal outlook", they say.The UST 10yr yield is now at 4.15%, up +15 bps from this time yesterday. Risk premiums are jumping. The price of gold will start today at just on US$2966/oz, and down -US$71 from yesterday, down -2.3% and "just another commodity". Holders are selling to cover margin calls now.Oil prices have dropped another +50 USc from yesterday at just on US$61.50/bbl in the US and the international Brent price is now just under US$65/bbl.The Kiwi dollar is now at 55.5 USc, down -40 bps from yesterday. Against the Aussie we are unchanged at 92.5 AUc. Against the euro we down -40 bps from yesterday at just on 50.7 euro cents. That all means our TWI-5 starts today now just on 65.5 and down -30 bps from yesterday.The bitcoin price starts today at US$78,846 and down -2.8% from this time yesterday. Volatility over the past 24 hours has been very high at +/- 4.1%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Economy Watch
Sophomoric stupidity threatens global tailspin

Economy Watch

Play Episode Listen Later Apr 6, 2025 7:49


Kia ora,Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news we are now in a 'new world economy' and it will take some getting used to. The roll-out and consequences will develop over days, weeks, months, and years.The immediate past is irrelevant today. Tomorrow will be quite disconnected from the recent past.But first up, we have a busy week ahead. On Wednesday, the RBNZ will release the results of its OCR review, and a -25 bps cut is anticipated, taking it to 3.50%. It has been clearly signaled by the central bank, although we should note that much has happened to change the immediate economic outlook over the rest of 2025 and beyond.The Indian central bank will also review its policy rate, also on Wednesday, and a -25 bps cut is also anticipated there from the current 6.25%.Elsewhere both the US and China will release CPI and PPI inflation data. EU retail sales data and German industrial production data will also come this week.But nothing will be as influential as the tariff war hostilities, punch and counterpunch. Over the weekend China has responded to the US tariffs with its own sweeping restrictions on trade with the US, with more to come. In all, we count eight major announcements on restriction of trade with the US.China placed export restrictions on rare earth elements squeezing supply to the West of minerals. These materials are used in optical lasers, radar devices, high-powered magnets for wind turbines, jet engine coatings, communications and other advanced technologies. That leaves many manufacturers scrambling for fresh supplies of the critical minerals they have relied upon for decades.Late last week we reported that Canada retaliated. But so far, we haven't heard of EU retaliation, although they are huddling to plan a united response. (And oddly, no US tariffs were applied to Cuba, Iran, North Korea or Russia - even though the US runs a large -US$4 bln trade deficit with Russia.)Fed boss Powell was speaking over the weekend and he said the economic impact of new tariffs is likely to be significantly larger than expected, and the central bank must make sure that doesn't lead to a growing inflation problem. "The same is likely to be true of the economic effects, which will include higher inflation and slower growth."All this will have very large secondary effects on New Zealand, and our currency dived sharply on the news at the end of last week. It was an even larger negative reaction for Australia.Commodity prices have taken outsized hits, all consistent with pricing for a deep recession. Copper is down -16.5% since its late-March peak. It is far from the only one, and the adjusting is still underway. Gold wasn't immune. Nickel, zinc, and aluminium are all also down sharply. So far, food prices haven't really moved much, and the FAO report for March confirmed that.Those secondary reactions will be widespread however. The airfreight market is expected to be thrown into turmoil, up in the immediate scramble to get ordered goods, then a deep drought, as it will be for shipping. Collapses will further hinder the reduced trade expected.The key takeaway from all this is unsettling - this isn't the bottom. It may only be the start of a steep decline. It certainly is a 'Black Swan' event. That tariffs were coming, no surprise. But the size and comprehensiveness were very much larger than anyone, friend or foe, expected. Everyone should be worried, especially savers. Stagflation is the most likely future we face.For the record, there was economic data out over the weekend. The US non-farm March payrolls came in better than anticipated with a +228,000 seasonally adjusted rise in the month. The monthly average gain in 2025 is now the lowest since the 2020 year (and also lower than any year 2016-2019.) Canada reported a -33,000 drop in March employment. Deeper rate cuts are the likely Bank of Canada response, and soon - on April 17, NZT.And across the Pacific, Japanese household income rose more than expected in February from the steep drop in January. But it wasn't enough to show a gain year-on-year.German factory orders remained low in February, and unchanged from January in an under-shoot.But none of this recent-history data really means much anymore.The following changes are outsized, and still moving. But this is what we see now.The UST 10yr yield is now at 4.00%, down -25 bps from a week ago. The VIX volatility index has jumped suddenly, moving up towards an extreme level.Wall Street fell hard in its Friday trade with the S&P500 down -6.0% on the day and the Nasdaq was down -5.8%. The S&P500 futures trade suggests a small part of that (maybe +0.7%) could be recovered when Monday trade resumes.The price of gold will start today at just on US$3037/oz, up +US$17 from Saturday but down a net -US$71 from Friday, a huge move as gold is just being classed as "another commodity". Also, even before the latest tariff chaos, the Germans were worried about a Trump America, and talking about relocating its gold reserves out of New York. Those voices are louder now.Oil prices have dropped another huge -US$4.50 from Friday at just on US$62/bbl in the US and the international Brent price is now just on US$65.50/bbl. This market faces steep demand drops just as it wants to increase production.The Kiwi dollar is now at 55.9 USc, up +30 bps from Saturday but an enormous -220 bps dump from this time Friday, down -4.3%. Against the Aussie we are down -10 bps at 92.5 AUc and the Aussie dollar took an even larger hit on Friday. Against the euro we up +20 bps but down -150 bps from Friday at just under 51.1 euro cents. That all means our TWI-5 starts today now just on 65.8 and down -120 bps from Friday to its lowest since the brief pandemic dive on March 20, 2020, and before that in March 2011 as the GFC bit hard..The bitcoin price starts today at US$81,097 and down -3.2% from this time Saturday. Volatility over the past 24 hours has been modest at +/- 1.5%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Only God Rescued Me: My Journey From Satanic Ritual Abuse

Cindy Mills did not grow up in a generational RA family. She was accessed through a babysitter at the tender age of 4. In what was probably a Santeria group, Cindy silently endured two years of terrifying abuse. Hear her story and how it set her up to join The Way International at age 18. She felt it was safer than being in the Catholic Church with the iconography of her abuse. TWI became another group to escape. Finally, she found the true Lord Jesus Christ and He set her free. Follow her incredible story in today's podcast. Only God Rescued Me: Website: www.onlygodrescuedme.com Contact Lisa:lisa@onlygodrescuedme.comTo help support this podcast: https://buymeacoffee.com/onlygodrescuedme.com

Star Wars Universe Podcast
Clone Wars S1 • Erin's Favs: Eps 19-21

Star Wars Universe Podcast

Play Episode Listen Later Mar 13, 2025 41:06


Star Wars Generations: Revisiting The Clone Wars Season 1 Ryloth ArcIn this episode of Star Wars Generations, hosts Matthew and Erin dive into the Ryloth arc (episodes "Storm Over Ryloth," "Innocents of Ryloth," and "Liberty on Ryloth") from the first season of Star Wars: The Clone Wars. Rather than doing a complete rewatch, they're focusing on their favorite episodes from each season, sharing perspectives across different generations of Star Wars fans.Erin chose the Ryloth arc, which focuses on the Republic's attempt to liberate the Twi'lek homeworld from Separatist occupation. The hosts break down the three-episode storyline, examining how each episode builds upon different aspects of war – from space battles to ground assaults to the civilian impact.What lessons does Ahsoka learn about command?The hosts discuss how "Storm Over Ryloth" shows Ahsoka Tano's early leadership struggles when she disobeys orders during a space battle, resulting in lost clone trooper lives. Matthew and Erin analyze how this mirrors Anakin Skywalker's own leadership style and foreshadows later character development. They debate whether the Jedi's approach to military command shows their fundamental unsuitability for wartime leadership.How does "Innocents of Ryloth" show the human side of clone troopers?Erin explains why "Innocents of Ryloth" resonates so deeply with her. The story follows clone troopers Waxer and Boil as they encounter a young Twi'lek girl named Numa. The episode showcases the clones' humanity beyond their military purpose, with Waxer's immediate compassion contrasting with Boil's initial reluctance. This connection becomes even more poignant when listeners learn that Waxer appears later in the series during the Battle of Umbara.What political themes emerge in the Ryloth liberation storyline?Matthew highlights how the Ryloth arc explores the complex political reality of war, where planets and their people become caught between opposing forces. The hosts discuss the conflict between Twi'lek freedom fighter Cham Syndulla (father of Rebels character Hera Syndulla) and Senator Orn Free Taa, examining how this storyline shows that not all Republic-aligned characters have the best interests of their people at heart.Other topics discussed include:Rose Tico's famous quote from The Last Jedi ("We don't win by fighting what we hate, we win by saving what we love") and how it connects to the clone troopers' mission on RylothSeparatist leader Wat Tambor's portrayal as a calculating villain focused on stealing Ryloth's resourcesHow the storyline foreshadows events in later Star Wars series like Rebels and The Bad BatchThe Clone Wars' consistent examination of how wars impact civilian populations caught in the crossfireNuma's character and her later appearances in Star Wars RebelsClone trooper individuality and personality development through visual and character choicesThe hosts wrap up by teasing next week's episode featuring Alex's picks: "Rookies," "Lair of Grievous," and "Trespass," which will explore a newly knighted Jedi, the Kaleesh cyborg general, and more Clone Wars adventures. **************************************************************************This episode is a production of Star Wars Generations, a The Ethical Panda Podcast and part of the TruStory FM Entertainment Podcast Network. Check our our website to find out more about this and our sister podcast Superhero Ethics.We want to hear from you! You can keep up with our latest news, and send us feedback, questions, or comments via social media or email.Email: Matthew@TheEthicalPanda.comFacebook: TheEthicalPandaInstagram: TheEthicalPandaPodcastsTwitter: EthicalPanda77Or you can join jump into the Star Wars Generations and Superhero Ethics channels on the TruStory FM Discord.To learn more about co-host Erin and her incredible cosplay check out her Instagram, LadyTanoCreates.Want to get access to even more content while supporting the podcast? Become a member! For $5 a month, or $55 a year you get access to bonus episodes and bonus content at the end of most episodes. Sign up on the podcast's main page you can even give membership as a gift!You can also support our podcasts through our sponsors:Purchase a lightsaber from Level Up Sabers run by friend of the podcast Neighborhood Master AlanUse Audible for audiobooks. Sign up for a one year membership or gift one through this link.Purchase any media discussed this week through our sponsored links.

Star Wars Loose Canon
The Kenobi Timeline Part 5

Star Wars Loose Canon

Play Episode Listen Later Feb 28, 2025 122:38


The Brothers Krynn come back on the pod to share their fan fiction idea, The Kenobi Timeline. Inspired by the Legends novel, Secrets of the Jedi, the story follows the what-if scenario of Obi-Wan and Obi-Wan's lover, Siri secretly having a child. From there events unfold unexpectedly, especially with lesser-known companions of Anakin and Obi-Wan who are the focus of the narrative. Each of these characters has a fully fleshed-out backstory with motivations that weave into but never contradict the events of the Prequels.  Want more energy and essential vitamins for your day but want to limit your caffeine intake? Visit https://www.magicmind.com/swlc to get up to 48% off with my code:  SWLC20   As you listen along, you can refer to the character glossary provided by the Brothers Krynn:  Tahlon Kenobi: son of Obi-Wan Kenobi and Siri Tachi (Kenobi), Wields a double-sided Blue lightsaber, his style is Form IV (Ataru variant) Talanis Salazzar: Mandalorian warrior woman, 5 years older than Tahlon. Number one Mandalorian bounty-hunter after Jango Fett Darael Feran: Trandoshan Jedi Master, Wields double-sided Green lightsaber, his style is Form III (Soresu variant), Melirah Stardust's master before leaving the order to join the Jedi, who chose to leave to work with Dooku in the CIS Melirah Stardust: A young Jedi, same age as Anakini with Red hair, born on Tattooine to a Moisture Farmer, she is hot-headed, yet dreams of being a healer. She was Darael Feran's padawan. She is the most gifted seer of her generation. Her style is Form VI (Jar'Kai) (Form IV Ataru Variant) Her right-handed lightsaber is yellow, her left-handed one is blue Mi'kraan Darklighter: A young Jedi, born on the same day, same hour as Melirah, though the two are not related, they share a bond with each other. She is tall and blonde haired, statuesque, the more beautiful of the two. A gentle soul who specializes in diplomacy and teaching younglings. She dislikes violence in all its forms, and has requested to resign her military position, but has been refused. A favourite of Yoda. Her style is Form VI (Jar'Kai) (Form III Soresu variant) Her right-hand lightsaber is Green, her left-hand is Yellow Fergus Feld: One year older than Anakin, a personality like Sturm Brightblade (Dragonlance), is fanatically loyal to the order, and a good friend of Tahlon. He does not trust Anakin and thinks he will turn to the darkside, and in extension dislikes Obi-Wan, a favourite of Yoda, who was abused by his master, Yaduu. His lightsaber style is Form V, and Form VII (Shien/Djem-So and Juyo) his lightsaber colour is blue Grrwyan: A wookie Jedi Tahlon grew up with. He dislikes Tahlon. His style is Form V (Shien/Djem-So) His lightsaber colour is Blue Ivec'leba: A twi'lek initiate Tahlon grew up with, she was sold into slavery, and liberated by Millennia Far'lin. She dies in Tahlon's arms when he is an initiate Jedi Master Chirus: A half-Blind Solustan jedi, who exposed his previous padawan's affair with another jedi, which led her to commit suicide, which traumatized. He later becomes Tahlon's master, and is three years older than Dooku. He dies on Geonosis. His apprentice was a young woman by the name of Yasmina Shen. Her former lover fled with her child to the outer rim, and founded a Jedi cult which her widow and son will end up fighting in the clone wars on the side of the Republic, as Chirus made peace with him three years before he died. Chirus' style is Form VI (Niiman) His colour is Green. Millennia Farland: The daughter of a deceased freedom fighter of Ryloth, Millennia picked up his torch and his movement to liberate all the Twi'leks from the Hutts and the Exchange, she has since become the Senator of Renkloth. (We set the planet in the neighbouring star system next to Ryloth.) She is a firebrand, who is friends of Tahlon, hates the Hutts and consistently pushes for Republican interference in twi'lek affairs, and has become disillusioned with the Senate. She is also given a military commission for the Grand Army of the Republic. Alpha Squad: Tahlon's personal Commando unit. They consist of RC-1515 “Quinze” (Leader), RC-9888 “Zuko” (Demolitions), RC-0109 “Nate” (Weapons) and RC-2898 “Wyatt” (Tech Specialist) RC-1515 “Quinze”: The leader of Alpha Squad, he has a sardonic sense of humour, similar to that of Qui-Gon Jinn. He is also strict, and at times inflexible, and is very shy around beautiful women. He is force sensitive. RC-9888 “Zuko”: The Demolitions expert of Alpha Squad, he is argumentative, severe, who complains a lot, and has a bit of a temper. He is always arguing and fighting with Nate, and yet the two consider each other almost twins. RC-0109 “Nate”: The weapons expert: He is chatty, gabby, cheerful and friendly. Nate loves heavy-grade weaponry. He considers his voice a gift from the force. He also loves show tunes and pretty women. RC-2898 “Wyatt”: The Tech specialist, he is sarcastic, a little vain about his appearance, he has a superiority complex in regards to his IQ, and is the quiet member of the team, even as he considers himself a connoisseur of fine arts and pop stars. ARC-Commander 1139 “Hale”: Commander of the 339th Legion, he serves as Mi'kraan's clone commander. Where she dislikes violence, he revels in it. He is cold and calculating, and a General of the highest quality. He was one of the top graduates from Kamino in strategy and tactics. ARC-Commander 3615 “Boom”: Commander of the 431th Legion. Tahlon's clone commander, his solution to every problem is explosives, bombardment, and even more explosives. He is very good friends with Nate and Zuko. He is fairly cheerful by nature. ARC-Commander 1238 “Krath”: Commander of the 436th Legion. One of the most bloodthirsty clone commanders, and is absolutely ruthless. He believes in no mercy, and has a belief system akin to Canderous Ordo, except he scorns the disloyal and self-serving Mandalorians, and thinks that Clones are superior to them, as he does the Jedi, whom he holds in high regard. He is Melirah's clone commander. ARC-Commander 1138 “Crusher”: Commander of the 189th Legion. Another ruthless clone commander with a cold and impatient side, who believes people have to win his respect, as he hates incompetence, and has no patience for fools. He is the finest clone commander in the galaxy. He serves under Fergus, and has been lauded by Mace Windu. CT-1159 Sergeant “Muln”: A rambunctious, duty-obsessed starfighter pilot in the Republic Navy, he serves under Melirah, and is a quick shot, and impulsive pilot. He is named after Garen Muln, the finest pilot in the galaxy.  Darin Pol: A Kel-Dor Martial Artist and security officer who volunteers for the navy, and is put in Melirah's Legion. will continuously reference Justice. He is wise, and the sworn brother of Sergeant Muln Darth Malignus: A Sith Knight trained by a Sith cult that swears itself to Count Dooku and the CIS, he is the top warrior of the cult, and is from the planet Sorrus. His lightsaber is the sith variant of Form VI (Jar'Kai, Form V Shien/Djem-So variant,) He is very much inspired by Dinobot from Beast Wars.

Podcast Stardust
Episode 849 - The Clone Wars - "Lyberty on Ryloth" 121

Podcast Stardust

Play Episode Listen Later Feb 17, 2025 33:16


Mace Windu leads the Republic's final push for victory on Ryloth, but he has to recruit some help from the local Twi'lek resistance fighters to make it happen first.   In this fully armed and operational episode of Podcast Stardust, we discuss: Our overall thoughts on this episode, Mace Windu's feature role and portrayal, The introduction of Cham Syndulla, the resistance leader on Ryloth, Cham Syndulla's reluctance to accept Jedi and Republic assistance, The appearance of the blurrg, their origins, and where they appeared in later Star Wars stories, Wat Tambor, the leader of the Separatists, and his greed, and Some Easter eggs appearing in this episode, and more. For more The Clone Wars discussion, check out episode 846.   Thanks for joining us for another episode! Subscribe to Podcast Stardust for all your Star Wars news, reviews, and discussion wherever you get your podcasts. And please leave us a five star review on Apple Podcasts.   Find Jay and her cosplay adventures on J.Snips Cosplay on Instagram.   Join us for real time discussion on the RetroZap Discord Server here: RetroZap Discord. Follow us on social media: Twitter | Facebook | Instagram | Pinterest | YouTube. T-shirts, hoodies, stickers, masks, and posters are available on TeePublic. Find all episodes on RetroZap.com.

RetroZap Podcast Network
Podcast Stardust #849: The Clone Wars – “Liberty on Ryloth” 121

RetroZap Podcast Network

Play Episode Listen Later Feb 17, 2025


Mace Windu leads the Republic's final push for victory on Ryloth, but he has to recruit some help from the local Twi'lek resistance fighters to make it happen first.

The Star Lores Podcast
Twi'leks | EP 108

The Star Lores Podcast

Play Episode Listen Later Feb 12, 2025 56:02


The Twi'leks—graceful, and resilient—were a humanoid species hailing from the sun-scorched, twilight-shadowed world of Ryloth. Known for their striking appearance, they were often the subject of fascination and exploitation in equal measure across the galaxy. Become a patron to get access to the bonus episodes or support the show through Paypal and bitcoin! You can also check out our merch on Redbubble. Don't forget to also connect with us on Facebook, Instagram, X.com and Discord! https://doras.to/starlores

Podcast Stardust
Episode 846 - The Clone Wars - “Innocents of Ryloth” 120

Podcast Stardust

Play Episode Listen Later Feb 10, 2025 33:47


The Ryloth story arc from season one of The Clone Wars continues with Obi-Wan and a squad of clones working to liberate Twi'leks and destroy Separatist cannons.   In this fully armed and operational episode of Podcast Stardust, we discuss: Our overall thoughts on “Innocents of Ryloth,” Why this episode stands out and the themes of the episode, Obi-Wan Kenobi and Commander Cody's orders to the clones, Two specific clones, Waxer and Boil, and their relationship to Numa, a young Twi'lek child, The gutkurrs, giant alien insects, and how the Separatist manipulate them, The tactical droids, and Some Easter Eggs found throughout the episode. For more The Clone Wars discussion, check out episode 843.   Thanks for joining us for another episode! Subscribe to Podcast Stardust for all your Star Wars news, reviews, and discussion wherever you get your podcasts. And please leave us a five star review on Apple Podcasts.   Find Jay and her cosplay adventures on J.Snips Cosplay on Instagram.   Join us for real time discussion on the RetroZap Discord Server here: RetroZap Discord. Follow us on social media: Twitter | Facebook | Instagram | Pinterest | YouTube. T-shirts, hoodies, stickers, masks, and posters are available on TeePublic. Find all episodes on RetroZap.com.

RetroZap Podcast Network
Podcast Stardust #846: The Clone Wars – “Innocents of Ryloth” 120

RetroZap Podcast Network

Play Episode Listen Later Feb 10, 2025


The Ryloth story arc from season one of The Clone Wars continues with Obi-Wan and a squad of clones working to liberate Twi'leks and destroy Separatist cannons.

WLEI - Lean Enterprise Institute's Podcast
Driving Continuous Improvement through Frontline Supervisors: A Conversation with TRQSS President Mark Dolsen

WLEI - Lean Enterprise Institute's Podcast

Play Episode Listen Later Jan 27, 2025 47:21


In this episode of the WLEI podcast, we sit down with Mark Dolsen, President of TRQSS, a seat belt manufacturer that supplies Toyota and other automakers in North America. Mark shares insights into TRQSS's lean journey and the critical role of frontline supervisors in driving continuous improvement.  Key takeaways include:  TRQSS has evolved its lean practices over decades, starting with the influence of Japanese coordinators and later adopting TWI principles.  The company's "TPS for Team Leaders" program focuses on developing supervisors' capabilities in areas like flow, standardized work, and kaizen.  TRQSS's quality management approach is rooted in the principle of "mizenboushi" — proactively maintaining process conditions to ensure good parts every time. Read more about how TRQSS applies mizenboushi in this paper. Mark's leadership philosophy emphasizes coaching, teaching, and empowering employees to make decisions and contribute to the company's lean culture. 

Star Wars Loose Canon
The Kenobi Timeline Part 4 with the Brothers Krynn

Star Wars Loose Canon

Play Episode Listen Later Jan 23, 2025 108:44


The Brothers Krynn come back on the pod to share their fan fiction idea, The Kenobi Timeline. Inspired by the Legends novel, Secrets of the Jedi, the story follows the what-if scenario of Obi-Wan and Obi-Wan's lover, Siri secretly having a child. From there events unfold unexpectedly, especially with lesser-known companions of Anakin and Obi-Wan who are the focus of the narrative. Each of these characters has a fully fleshed-out backstory with motivations that weave into but never contradict the events of the Prequels.  As you listen along, you can refer to the character glossary provided by the Brothers Krynn:  Tahlon Kenobi: son of Obi-Wan Kenobi and Siri Tachi (Kenobi), Wields a double-sided Blue lightsaber, his style is Form IV (Ataru variant) Talanis Salazzar: Mandalorian warrior woman, 5 years older than Tahlon. Number one Mandalorian bounty-hunter after Jango Fett Darael Feran: Trandoshan Jedi Master, Wields double-sided Green lightsaber, his style is Form III (Soresu variant), Melirah Stardust's master before leaving the order to join the Jedi, who chose to leave to work with Dooku in the CIS Melirah Stardust: A young Jedi, same age as Anakini with Red hair, born on Tattooine to a Moisture Farmer, she is hot-headed, yet dreams of being a healer. She was Darael Feran's padawan. She is the most gifted seer of her generation. Her style is Form VI (Jar'Kai) (Form IV Ataru Variant) Her right-handed lightsaber is yellow, her left-handed one is blue Mi'kraan Darklighter: A young Jedi, born on the same day, same hour as Melirah, though the two are not related, they share a bond with each other. She is tall and blonde haired, statuesque, the more beautiful of the two. A gentle soul who specializes in diplomacy and teaching younglings. She dislikes violence in all its forms, and has requested to resign her military position, but has been refused. A favourite of Yoda. Her style is Form VI (Jar'Kai) (Form III Soresu variant) Her right-hand lightsaber is Green, her left-hand is Yellow Fergus Feld: One year older than Anakin, a personality like Sturm Brightblade (Dragonlance), is fanatically loyal to the order, and a good friend of Tahlon. He does not trust Anakin and thinks he will turn to the darkside, and in extension dislikes Obi-Wan, a favourite of Yoda, who was abused by his master, Yaduu. His lightsaber style is Form V, and Form VII (Shien/Djem-So and Juyo) his lightsaber colour is blue Grrwyan: A wookie Jedi Tahlon grew up with. He dislikes Tahlon. His style is Form V (Shien/Djem-So) His lightsaber colour is Blue Ivec'leba: A twi'lek initiate Tahlon grew up with, she was sold into slavery, and liberated by Millennia Far'lin. She dies in Tahlon's arms when he is an initiate Jedi Master Chirus: A half-Blind Solustan jedi, who exposed his previous padawan's affair with another jedi, which led her to commit suicide, which traumatized. He later becomes Tahlon's master, and is three years older than Dooku. He dies on Geonosis. His apprentice was a young woman by the name of Yasmina Shen. Her former lover fled with her child to the outer rim, and founded a Jedi cult which her widow and son will end up fighting in the clone wars on the side of the Republic, as Chirus made peace with him three years before he died. Chirus' style is Form VI (Niiman) His colour is Green. Millennia Farland: The daughter of a deceased freedom fighter of Ryloth, Millennia picked up his torch and his movement to liberate all the Twi'leks from the Hutts and the Exchange, she has since become the Senator of Renkloth. (We set the planet in the neighbouring star system next to Ryloth.) She is a firebrand, who is friends of Tahlon, hates the Hutts and consistently pushes for Republican interference in twi'lek affairs, and has become disillusioned with the Senate. She is also given a military commission for the Grand Army of the Republic. Alpha Squad: Tahlon's personal Commando unit. They consist of RC-1515 “Quinze” (Leader), RC-9888 “Zuko” (Demolitions), RC-0109 “Nate” (Weapons) and RC-2898 “Wyatt” (Tech Specialist) RC-1515 “Quinze”: The leader of Alpha Squad, he has a sardonic sense of humour, similar to that of Qui-Gon Jinn. He is also strict, and at times inflexible, and is very shy around beautiful women. He is force sensitive. RC-9888 “Zuko”: The Demolitions expert of Alpha Squad, he is argumentative, severe, who complains a lot, and has a bit of a temper. He is always arguing and fighting with Nate, and yet the two consider each other almost twins. RC-0109 “Nate”: The weapons expert: He is chatty, gabby, cheerful and friendly. Nate loves heavy-grade weaponry. He considers his voice a gift from the force. He also loves show tunes and pretty women. RC-2898 “Wyatt”: The Tech specialist, he is sarcastic, a little vain about his appearance, he has a superiority complex in regards to his IQ, and is the quiet member of the team, even as he considers himself a connoisseur of fine arts and pop stars. ARC-Commander 1139 “Hale”: Commander of the 339th Legion, he serves as Mi'kraan's clone commander. Where she dislikes violence, he revels in it. He is cold and calculating, and a General of the highest quality. He was one of the top graduates from Kamino in strategy and tactics. ARC-Commander 3615 “Boom”: Commander of the 431th Legion. Tahlon's clone commander, his solution to every problem is explosives, bombardment, and even more explosives. He is very good friends with Nate and Zuko. He is fairly cheerful by nature. ARC-Commander 1238 “Krath”: Commander of the 436th Legion. One of the most bloodthirsty clone commanders, and is absolutely ruthless. He believes in no mercy, and has a belief system akin to Canderous Ordo, except he scorns the disloyal and self-serving Mandalorians, and thinks that Clones are superior to them, as he does the Jedi, whom he holds in high regard. He is Melirah's clone commander. ARC-Commander 1138 “Crusher”: Commander of the 189th Legion. Another ruthless clone commander with a cold and impatient side, who believes people have to win his respect, as he hates incompetence, and has no patience for fools. He is the finest clone commander in the galaxy. He serves under Fergus, and has been lauded by Mace Windu. CT-1159 Sergeant “Muln”: A rambunctious, duty-obsessed starfighter pilot in the Republic Navy, he serves under Melirah, and is a quick shot, and impulsive pilot. He is named after Garen Muln, the finest pilot in the galaxy.  Darin Pol: A Kel-Dor Martial Artist and security officer who volunteers for the navy, and is put in Melirah's Legion. will continuously reference Justice. He is wise, and the sworn brother of Sergeant Muln Darth Malignus: A Sith Knight trained by a Sith cult that swears itself to Count Dooku and the CIS, he is the top warrior of the cult, and is from the planet Sorrus. His lightsaber is the sith variant of Form VI (Jar'Kai, Form V Shien/Djem-So variant,) He is very much inspired by Dinobot from Beast Wars.

The Volume Knob
Gina: Into the Mystic

The Volume Knob

Play Episode Listen Later Dec 19, 2024 20:06


So happy to finally have Gina on the show!  I love her style. Direct, vulnerable and delivered at a human pace. If you like it too, you might want to watch her work from The Moth or one of her many appearances on the stage at Confabulation.  You can also follow Gina on Instagram and (in case anyone is still doing it these days) Twi(x)tter. Oh! As promised here's the new TVK "places" playlist featuring London, LA, Ontario Cottage Country, New York - of course - and a little Birmingham).While you're in a following mood make sure you add The Volume Knob on Twitter, Instagram, and Facebook .And if you have a story about the song that saved your life be sure to send it to me at volumeknobpod@gmail.com.

Star Wars Loose Canon
The Kenobi Timeline Part 3 with the Brothers Krynn

Star Wars Loose Canon

Play Episode Listen Later Dec 18, 2024 127:48


The Brothers Krynn come back on the pod to share part 3 of their fan fiction idea, The Kenobi Timeline. Inspired by the Legends novel, Secrets of the Jedi, the story follows the what-if scenario of Obi-Wan and Obi-Wan's lover, Siri secretly having a child. From there events unfold unexpectedly, especially with lesser-known companions of Anakin and Obi-Wan who are the focus of the narrative. Each of these characters has a fully fleshed-out backstory with motivations that weave into but never contradict the events of the Prequels.  Want more energy and essential vitamins for your day but want to limit your caffeine intake? Visit https://www.magicmind.com/swlc now to get up to 48% off your first subscription or 20% off a one-time purchase with code SWLC20 at checkout. As you listen along, you can refer to the character glossary provided by the Brothers Krynn:  Tahlon Kenobi: son of Obi-Wan Kenobi and Siri Tachi (Kenobi), Wields a double-sided Blue lightsaber, his style is Form IV (Ataru variant) Talanis Salazzar: Mandalorian warrior woman, 5 years older than Tahlon. Number one Mandalorian bounty-hunter after Jango Fett Darael Feran: Trandoshan Jedi Master, Wields double-sided Green lightsaber, his style is Form III (Soresu variant), Melirah Stardust's master before leaving the order to join the Jedi, who chose to leave to work with Dooku in the CIS Melirah Stardust: A young Jedi, same age as Anakini with Red hair, born on Tattooine to a Moisture Farmer, she is hot-headed, yet dreams of being a healer. She was Darael Feran's padawan. She is the most gifted seer of her generation. Her style is Form VI (Jar'Kai) (Form IV Ataru Variant) Her right-handed lightsaber is yellow, her left-handed one is blue Mi'kraan Darklighter: A young Jedi, born on the same day, same hour as Melirah, though the two are not related, they share a bond with each other. She is tall and blonde haired, statuesque, the more beautiful of the two. A gentle soul who specializes in diplomacy and teaching younglings. She dislikes violence in all its forms, and has requested to resign her military position, but has been refused. A favourite of Yoda. Her style is Form VI (Jar'Kai) (Form III Soresu variant) Her right-hand lightsaber is Green, her left-hand is Yellow Fergus Feld: One year older than Anakin, a personality like Sturm Brightblade (Dragonlance), is fanatically loyal to the order, and a good friend of Tahlon. He does not trust Anakin and thinks he will turn to the darkside, and in extension dislikes Obi-Wan, a favourite of Yoda, who was abused by his master, Yaduu. His lightsaber style is Form V, and Form VII (Shien/Djem-So and Juyo) his lightsaber colour is blue Grrwyan: A wookie Jedi Tahlon grew up with. He dislikes Tahlon. His style is Form V (Shien/Djem-So) His lightsaber colour is Blue Ivec'leba: A twi'lek initiate Tahlon grew up with, she was sold into slavery, and liberated by Millennia Far'lin. She dies in Tahlon's arms when he is an initiate Jedi Master Chirus: A half-Blind Solustan jedi, who exposed his previous padawan's affair with another jedi, which led her to commit suicide, which traumatized. He later becomes Tahlon's master, and is three years older than Dooku. He dies on Geonosis. His apprentice was a young woman by the name of Yasmina Shen. Her former lover fled with her child to the outer rim, and founded a Jedi cult which her widow and son will end up fighting in the clone wars on the side of the Republic, as Chirus made peace with him three years before he died. Chirus' style is Form VI (Niiman) His colour is Green. Millennia Farland: The daughter of a deceased freedom fighter of Ryloth, Millennia picked up his torch and his movement to liberate all the Twi'leks from the Hutts and the Exchange, she has since become the Senator of Renkloth. (We set the planet in the neighbouring star system next to Ryloth.) She is a firebrand, who is friends of Tahlon, hates the Hutts and consistently pushes for Republican interference in twi'lek affairs, and has become disillusioned with the Senate. She is also given a military commission for the Grand Army of the Republic. Alpha Squad: Tahlon's personal Commando unit. They consist of RC-1515 “Quinze” (Leader), RC-9888 “Zuko” (Demolitions), RC-0109 “Nate” (Weapons) and RC-2898 “Wyatt” (Tech Specialist) RC-1515 “Quinze”: The leader of Alpha Squad, he has a sardonic sense of humour, similar to that of Qui-Gon Jinn. He is also strict, and at times inflexible, and is very shy around beautiful women. He is force sensitive. RC-9888 “Zuko”: The Demolitions expert of Alpha Squad, he is argumentative, severe, who complains a lot, and has a bit of a temper. He is always arguing and fighting with Nate, and yet the two consider each other almost twins. RC-0109 “Nate”: The weapons expert: He is chatty, gabby, cheerful and friendly. Nate loves heavy-grade weaponry. He considers his voice a gift from the force. He also loves show tunes and pretty women. RC-2898 “Wyatt”: The Tech specialist, he is sarcastic, a little vain about his appearance, he has a superiority complex in regards to his IQ, and is the quiet member of the team, even as he considers himself a connoisseur of fine arts and pop stars. ARC-Commander 1139 “Hale”: Commander of the 339th Legion, he serves as Mi'kraan's clone commander. Where she dislikes violence, he revels in it. He is cold and calculating, and a General of the highest quality. He was one of the top graduates from Kamino in strategy and tactics. ARC-Commander 3615 “Boom”: Commander of the 431th Legion. Tahlon's clone commander, his solution to every problem is explosives, bombardment, and even more explosives. He is very good friends with Nate and Zuko. He is fairly cheerful by nature. ARC-Commander 1238 “Krath”: Commander of the 436th Legion. One of the most bloodthirsty clone commanders, and is absolutely ruthless. He believes in no mercy, and has a belief system akin to Canderous Ordo, except he scorns the disloyal and self-serving Mandalorians, and thinks that Clones are superior to them, as he does the Jedi, whom he holds in high regard. He is Melirah's clone commander. ARC-Commander 1138 “Crusher”: Commander of the 189th Legion. Another ruthless clone commander with a cold and impatient side, who believes people have to win his respect, as he hates incompetence, and has no patience for fools. He is the finest clone commander in the galaxy. He serves under Fergus, and has been lauded by Mace Windu. CT-1159 Sergeant “Muln”: A rambunctious, duty-obsessed starfighter pilot in the Republic Navy, he serves under Melirah, and is a quick shot, and impulsive pilot. He is named after Garen Muln, the finest pilot in the galaxy.  Darin Pol: A Kel-Dor Martial Artist and security officer who volunteers for the navy, and is put in Melirah's Legion. will continuously reference Justice. He is wise, and the sworn brother of Sergeant Muln Darth Malignus: A Sith Knight trained by a Sith cult that swears itself to Count Dooku and the CIS, he is the top warrior of the cult, and is from the planet Sorrus. His lightsaber is the sith variant of Form VI (Jar'Kai, Form V Shien/Djem-So variant,) He is very much inspired by Dinobot from Beast Wars.

The Documentary Podcast
Tongue and talk: Keeping language alive in Africa

The Documentary Podcast

Play Episode Listen Later Nov 5, 2024 48:47


Ghanaian journalist Justice Baidoo is teaching his young children how to speak the ancient African language of Ahanta. He home schools them with lessons several times a week in an effort to keep the indigenous language alive in a continent where many are disappearing due to the over dominance of English and French, and in more recent years the added power of American culture through mass media, online and through mobile phones. Justice travels across Ghana to hear how locals are trying to revive the language of Animere in the Kecheibe and Kunda villages by setting up a radio station and running regular dedicated church services attracting a one-thousand-strong congregation. Other languages under threat include Twi, Ewe, Ga, Fanti. Waala and Frafra.