Black Monday

[BlackPeter]

in aussie they opened the immigration floodgates to solve worker shortages and now they have a rental shortage with rents going thru the roof at a time builders are collapsing left right and centre

Oh dear - I guess everyone has to die one death. Obviously - we can just keep the workers out and let our companies crumble due to labour shortages and our old people die without support from carers. I hope you are volunteering, are you?

[Panda-NZ-]

Actually - I heard him saying that the current level of employment is unsustainable. Opposite thing. You need to listen before you accuse him of saying what you wanted to hear instead of what he said;

It's Adrian Orr, not the oracle. It's one man's opinion at the end of the day.

[Paint it Black]

Just hope BP you aren't the one wanting a stent in a hurry.
Yes I meant 'employment' pretty obvious if you kept reading.

[Tomtom]

Demographically we, like other OECD countries, have fewer workers and an increasing number or consumers proportionally. It's far from apparent to me that unemployment rates will increase substantially.

[Paint it Black]

Demographically we, like other OECD countries, have fewer workers and an increasing number or consumers proportionally. It's far from apparent to me that unemployment rates will increase substantially.

Exactly - Orr is banging his head against a brick wall trying to reduce the employment rate so as to reduce demand to reduce inflation. He should be trying to increase supply by making the country more productive. More supply equals more competition equals lower inflation. Instead he wants a recession.

[Tomtom]

I don't think RBNZ can increase productivity.

Judging by the years of productivity comission that have been dutifully ignored by successive governments, they have no interest in improving productivity either.

[SailorRob]

I don't think RBNZ can increase productivity.

Judging by the years of productivity comission that have been dutifully ignored by successive governments, they have no interest in improving productivity either.

Doesn't help that the commission is chaired by a devout communist who's primary goal is moving the means of production to the state.

[SailorRob]

They might not be 'rich' by your standards, but very few are I suspect. Let alone as savvy about money, investing and wealth creation as you purport to be. And that said, I suspect a lot don't really care too much about it either, in favour of a good life without concern for whether they can afford a latte or a holiday, or to renovate heir home. Most people I suspect lead a lot more simple lives, saving what they can, getting out of debt, building a legacy they can live on and pass on to their offspring.

Few I suspect really give a second thought about being rich and making all the right decisions every time at exactly the right time, whatever they are.

Couple of thoughts about this, also I don't think I have ever purported to be savvy about money, investing and wealth creation! Just hope to share any knowledge I have managed to accumulate and call out crap.

But what I was thinking is that if this is true about few giving a second thought about being rich, why then do we have a national obsession with LOTO and other forms of gambling and why when any credit is extended to most people do they grab it with both hands and immediately use it to command material resources.

I think that rather than few really giving a second thought to being rich, almost everyone gives a lot of thought to it, they just don't think the right way. And they don't want to be rich, to be rich, they want to be rich to spend money.

As they say - everyone wants to be a millionaire so they can spend a million dollars, which is the very opposite.

We live in a material world and virtually everyone would love to have a flash house, 2 flash cars, luxurious overseas holidays and the social status of wealth, so rather than few, I counter almost all.

[Paint it Black]

I don't think RBNZ can increase productivity.

Judging by the years of productivity comission that have been dutifully ignored by successive governments, they have no interest in improving productivity either.

You are right not directly but the care the RBNZ manages the OCR settings, while allowing for the lag and not springing big surprises, affects the confidence levels of private sector decision makers.
The government and RBNZ's main priority should be to provide no surprises stability and to provide a good investment environment to enable productivity to flourish. Instead there are too many surprises which smacks of Orr always wanting to impose himself over Robertson not necessarily for the countries good.

[SailorRob]

https://www.newstalkzb.co.nz/on-air/...-ocr-increase/


Is this the same 'Milford Asset Management Expert' who had a large position in AT1s because the "yields were great" and it's a "disgrace" they were wiped out before the equity...

The actual full name of those bonds was something like "7% CET1 write down" implying they were gone as soon as CET1 went below 7%. In the name ffs.