It has the potential to be a real disaster. All the ingredients are there:
Credit crunch
Unrealistic Expectations
Job losses
Herd mentality
Credit crunch
Unrealistic Expectations
Job losses
Herd mentality
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The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.
But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.” -
And interest rates are still low in the UK, its 10.5% in NZ, that hurts!Comment
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There aren't any job losses yet, IT job market is humming along as far as I can see. I think they'll slash interest rates again and may keep it afloat a little while longer. If that fails to stop the rot and job losses do kick in then it's triple double extra thick uber doom !Originally posted by Bagpuss View PostComment
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I didn't realise it had got that high ! I read an article a while back that the more they put interest rates up to try and stop things overheating the more the carry trade money came flooding in and the worse the problem got.Originally posted by tay View PostComment
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How does one get a NZ savings account!
No not yet, but the service sector is bound take a big hit. Buy Aldi and Neto shares nowOriginally posted by rootsnall View PostThe court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.
But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”Comment
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Yes but now there is the problem as the economy hums along interest rates have to go up. Interest rates always go gradually up if the economy hums, only when it stops humming can they go down, either way it is curtains for overstretched borrowers.Originally posted by rootsnall View PostI'm alright JackComment
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Yes but they are desperate to keep inflation down, so they want to kill housing growth completely, so keep hiking the rate up. Kind of annoying if you want to buy NZ dollars as well.I didn't realise it had got that high ! I read an article a while back that the more they put interest rates up to try and stop things overheating the more the carry trade money came flooding in and the worse the problem got.
http://www.anz.com/nz/ratefee/interest.aspComment
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There is no way they are going up, more likely panic cutting. Canada did an unexpected cut yesterday, more countries to follow would be my shamateurnomics guess.Originally posted by BlasterBates View PostComment
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Some economies will take their cue from the United States, which has seen it's currency pulped. Only poor people work for dollars.Originally posted by rootsnall View Post
Inflation, once seen as yesterday's problem, is soon to re-emerge as a political as well as an economic problem. It's inherent in our monetary system. China is soon to stop exporting deflation and without a requisite increase in the value of money (higher interest rates) a situation will arise where only the little people will work for money.Comment
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The housing crash will at least help with keeping a low inflation figure.....Comment
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