For sure. The same feeling just talking to friends who are not fixed. Quite a bit of anxiety out there.
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Of course - anxiety is the only tool to effectively reduce household spending, which we need to reduce inflation.
On the other hand - unemployment is low - i.e. people do have an income stream. Maybe its just a question to reprioritise spending and maybe change the lifestyle a bit.
Do they need this new car, when the old one is still perfectly fine? Do we really need two SUV's to park in front of many town houses, if some more economical cars would do as well? Do we really need to buy every season new clothes when the old ones still look good? Do we really need to travel overseas every year when the local beach is just a stone throw away? Do we really need to throw away plenty of good fruit just because it has a mark but is quite edible? Do we really need to spend lots of money for smokes, vapes and alcohol? Do we really need to spend the Friday evenings in the local pub instead of meeting with friends at home?
While I feel for your friends, I think a bit of anxiety (causing caution) is a good sign. Obviously - there always will be really difficult cases, and others just never learned how to budget money. Another failure of our education system.
Looking however at the big picture - while it clearly is important for all of us to reassess the way we do live, it all depends as well on how the incoming government as well as the RBNZ will play their respective hands in the coming months.
However - there clearly is hope and there are huge opportunities ahead. Lets embrace them.
Now analysts are talking about weaker 2024. Fed rates cut to begin in 2024.
https://www.abnamro.com/research/en/...layed-to-march
It's just a pity that "AI" is the in thing. When Power Boards and Old People's Homes are the next best thing, the NZX is going to rip.
asx cpi just come in much lower than expected put rocket under the asx
One need to keep in mind that NZX index and top 10 stocks have very little correlation to actual NZ economy ....companies like WHS / TRA / RBD etc have very little weightage in Index ...these are the ones which get effected by your imploding profits forecast ....while FPH / IFT / SPK / EBO / MFT etc will be doing well thus index will be merry while real economy hurting ...hopefully u will appreciate the point I am trying to make here mate