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12 Comments
Hi Bernard, We like your
Hi Bernard,
We like your interesting, daily comments, thank you very much.
I gather from what you say that is too much from a drawing board of an economist. I think to judge the future of New Zealand the political situation worldwide needs to be considered also. Looking into that aspect and the possible consequences, we can not be so sure, if we just slide into a long recession only. I personally think a depression is more likely.
I like to add following:
I like to add following:
The increased financial burden on other fronts such as our environment/ health can have a huge impact also. Obviously occurring of events makes forecasting extremely difficult.
to Walter Kunz you wrote:
to Walter Kunz
you wrote: "” " increased financial burden on other fronts" "”
clearly you recognise the multinational oilco mindset, for this is boardroom-speak to gloss gross profit-making.. and taking.
read this in todays telegraph.
read this in todays telegraph. It frightening but life goes on. Forecasts of 500,000 jobs a month to be lost in the USA. also money to flow back to the US .
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/09/18/ccambr...
I see Macquarie Group are
I see Macquarie Group are getting a pasting down %21. interesting when the millionaires banks gets hammered. someone knows more than me wonder what?
http://www.businessspectator.com.au/bs.nsf/Article/Macquarie-responds-to...
I think one of the
I think one of the biggest problem is the complexity of the situation isn't recognised and underestimated by the public and authorties. Bad habits (greed) and decisions making in financial markets and also on the worldwide political fronts triggered uncertainty and fear worldwide. This scenario will lead into a dangers domino effect. The results can be catastrophic.
More talk about correlations/ interrelations, then single events.
walter kunz. 'relations'.. have you
walter kunz.
'relations'.. have you gotten more on this..?
Hawaii's tourist numbers are down
Hawaii's tourist numbers are down and it looks as thought it is going to be tough here too. We now have 1 in 10 workers in tourism.
Most writers on this site
Most writers on this site are commenting on world financial markets and how it is effecting New Zealand. That's fine, but because it isn't the full story it doesn't tell us where our economy is going. To have a better understanding and a clearer picture I think we should talk more about correlations/ interrelations between world politics, world economies, etc. then just single events. As an example: Tourism a big player in our economy - It is as much as important to find out if Smith's and Hickey's can, will or even are able to travel to "Down under" then how Freddie and Fannie go under.
All wonderful guys...but surely the
All wonderful guys...but surely the big question is:
What opportunties are being presented? Do we wait until next year to buy a home? do we buy shares of recently bailed out banks in the hope that they will rebound? Show me the money making opportunites.
Hi Tracy, I think it
Hi Tracy,
I think it is currently more a question of securing the money then making money. Currencies such as Swiss francs/ investments in art/ some commodities/ gold etc.
But most important the reduction of debts.
Tracy, I had to smile
Tracy, I had to smile with that question. I'm definitely not an expert, but here's my reading.
The aspiration of making money through speculative means will be in a bit of hiatus for awhile I suspect. Most folks with money (that being cash assets) are just trying to figure out how not to lose money to inflationary pressures, which I think are sure to blow right out over the next couple of years.
In short - I don't think there are any opportunities here for the general population. If you can hang onto employment through the rough period, that's good. If you can move to somewhere within walking distance of your employment, that's good. And I suspect looking for a safe job in government (i.e. safe meaning core services area) would be wise as well!
In particular - do not borrow any more presently (interest rates are on the up and up) - and definitely try to reduce debt.