Black Monday

[Valuegrowth]

As I said one positive sign for businesses is lower unemployment. Other positive factor is wealth created from the one of the longest bull markets for many assets from 2009 to 2023. Thanks to those factors there is a chance to ride out 2^nd half of this year. However, thereafter things are going to become worse before become better. Besides, the financial system has not fixed once and for all. Global debt has hit a record $300 trillion. Debt servicing is going to be more difficult as a result of high interest rates. This time I don’t think they can tame inflation using interest rates play. Only way to see lower inflation is price adjustments in assets, raw materials, goods and services. Consumer purchasing power is going to drop next. My purchasing power already has dropped. I used to travel those days almost every year. I can’t do it any longer.Strong companies with pricing power will be next winners. Because they can offer customers at lower levels than their competitors when purchasing power drops rapidly.

[mike2020]

Ive been on the road a few days stopping at a few tourist hot spots and crossed the straight. Never seen things so empty and I've traveled these routes many times in winter. Hardly a camper van in sight and only locals at Hanmer. I have to wonder if it is becoming like 2008 where people from everywhere have stopped spending.

[SailorRob]

Ive been on the road a few days stopping at a few tourist hot spots and crossed the straight. Never seen things so empty and I've traveled these routes many times in winter. Hardly a camper van in sight and only locals at Hanmer. I have to wonder if it is becoming like 2008 where people from everywhere have stopped spending.

That's very interesting, so no domestic tourists either...

[Valuegrowth]

[Valuegrowth]

[mike2020]

That's very interesting, so no domestic tourists either...

Would you class people from Christchurch at Hanmer as tourists? Most of the retail on the ferry was closed. Probably 5 or 10 percent of seats taken. Seemed vastly different to previous experience.

[SailorRob]

Would you class people from Christchurch at Hanmer as tourists? Most of the retail on the ferry was closed. Probably 5 or 10 percent of seats taken. Seemed vastly different to previous experience.

Haha no I wouldn't...

Some of these businesses must really be bleeding.

[alokdhir]

Ive been on the road a few days stopping at a few tourist hot spots and crossed the straight. Never seen things so empty and I've traveled these routes many times in winter. Hardly a camper van in sight and only locals at Hanmer. I have to wonder if it is becoming like 2008 where people from everywhere have stopped spending.

Yesterday I visited my local Super Liquor ie on Friday 5pm ...usually their busiest time ...found no customers ...enquired from friendly staff ...he said its been like this recently ...he told people trying to control spending ...I said even " Alcohol " ...must be dire ...I still think people are being more prudent this time ...saving and controlling before getting into a hole .

A family member who is in top management of a big bank informed me that 35% of mortgages only have been refixed at new rates ...more and more very close to need to do ...also foreclosures are rising then before but not alarming yet ...

Yes ...one gets the feeling what u suggesting ...

When real bottom of the economy ...stocks will be already rejoicing ...so hope ahead for NZX but difficult times for masses ...next 6 months will be tough and will make it very clear ...

[winner69]

US markets in bull market territory

Over last while interest rates go up 500 points and equity prices also rise. And apparently conditions are tight.

I don’t understand -

[alokdhir]

US markets in bull market territory

Over last while interest rates go up 500 points and equity prices also rise. And apparently conditions are tight.

I don’t understand -

Like charts and TA ...we will find reasons or shall I say ascribe reasons for whats happening in hindsight ...