Black Monday

[dobby41]

NZ pretty slack when it comes to productivity to start with

As a commentator pointed out the day both of countries on chart are small, remote, heavily reliant on natural resources:
Two countries: 1 success story, 1 failure

Seems to me to be a failure of capitalism really.
Cheap labour beats machine and investment.

[Ggcc]

Highest annual food price increase in more than a decade

Food prices jumped 7.6 per cent last month compared with March 2021, Stats NZ said on Wednesday.

https://www.stuff.co.nz/business/128...-than-a-decade


wait till next yr

It will be higher. I’ve heard some chicken products have increased 10-12% as of 1st April and after that packaging has risen over 100% in a year. At some stage we might see stuff with less packaging around it as they can’t source it. Paper apparently takes 7 months to get here so expect at some stage your shark and taties to get wrapped in something else way more expensive and passed onto consumers.

[Ggcc]

Seems to me to be a failure of capitalism really.
Cheap labour beats machine and investment.

We are becoming too interested in buying stuff from overseas at a cheaper rate. You can buy a commercial fridge made overseas for approximately $3-4000 and one made in nz for approximately $6-7000. Which fridge would you buy as a business when they both last about as long as each other? Now that covid has hit we see the need to return to manufacturing and possibly just all paying more for our stuff.

[Muse]

10 minutes before OCR announcements. Why do I have this feeling we will only get a 25bps hike (which would be a mistake IMO)

[Muse]

Up she goes - a 50 bps hike!

[winner69]

Up she goes - a 50 bps hike!

....wow ....some must have go to him

Wonder what the words will say ..... especially the hidden meanings etc

[winner69]

Up she goes - a 50 bps hike!

...means Govt has to cut back on most of it's 'discretionary' spending (a lot of it under the guise of covid recovery) or else more pain that there needs to be ....but Robertson wont see it that way because the economy is in good shape eh ...and I still have this rather full fiscal envelope

[bull....]

It will be higher. I’ve heard some chicken products have increased 10-12% as of 1st April and after that packaging has risen over 100% in a year. At some stage we might see stuff with less packaging around it as they can’t source it. Paper apparently takes 7 months to get here so expect at some stage your shark and taties to get wrapped in something else way more expensive and passed onto consumers.

the govt panicking now on the data release

In what looked like a move to pre-empt any criticism, the Government quickly issued a statement on the latest food prices. And Commerce and Consumer Affairs Minister David Clark said the Government was "committed to taking action to pave the way for additional players to enter the New Zealand grocery market in order to increase competition".

https://www.interest.co.nz/personal-...t-2011-and-was

as usual all talk no action this govt.

[Panda-NZ-]

Beware.. Hoops Wednesday morning rant below:

To me it feels like... Job Time = 70+% spent talking/writing about it (ticking all the over-regulation boxes) and 30-% doing the actual job.

Try working with the EU (both inside and outside of it) and some industries in the US (with their ancient regulations not updated in 100 years).

[iceman]

Seems to me to be a failure of capitalism really.
Cheap labour beats machine and investment.

HAHAHA. The "success" in winner's example is much more capitalist and invests much more in machines and technology. The other big difference is the level of education, sadly.
Maybe NZ is failing on this front because of too much Government intervention and heavy regulatory burden and maybe, just maybe, we need to stop all the BS in the education system and get back to basics !!