Global oil & gas prices surge, hammering stocks

This is a free preview of a paid episode. To hear more, visit thekaka.substack.comBriefly in the news in Aotearoa’s political economy around housing, climate and poverty on Wednesday, March 4:* Global stocks slumped 2.5% overnight on inflation fears triggered by 40-60% rises in gas prices and surge in oil prices to US$82/barrel. Paying subscribers can see more below the paywall fold & hear more in the podcast above.* Housing and Justice officials advised the Government against introducing ‘Move-On’ orders for homeless people in our big cities.* Infrastructure giant Downer, which has 26,000 workers, is set to announce job losses this afternoon after NZTA spending freezes and cuts over the last two years.* Demand for business credit fell 1% last month as liquidations rose 16% in the last year to a 13-year high.* IRD is now triggering 70% of liquidations as it chases overdue debt, up from 30-40% during Covid.* New Zealanders are mostly opposed to the idea of New Zealand joining Australia as a seventh state, a poll has found.Global markets in turmoil as Iran war worsens inflation fears