NZ banks, Fonterra and farmers 'caught short' by Europe's increased dairy production, BNZ boss Anthony Healy says

NZ banks, Fonterra and farmers 'caught short' by Europe's increased dairy production, BNZ boss Anthony Healy says

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Is it that easy to miss global malinvestment creep while one is exercising the same by encouraging dairy farmers to capitalise interest costs by piling debt upon existing debt, so long as the Chinese were permitted to serially rehypothecate warehouse WMP for cash? Did they (banks etc) think no one else would catch on to a potential white gold rush while the South Island remains littered with old gold mining shanty towns posing as tourist attractions?

Europe has strong cheese sales so there's a lot of milk powder produced as by product. I'm not expecting things to change for some time.

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