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  1. #1231
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    An economist for a fund manager expects Adrian to make a rate cut of 1%. Much like bank economists and real estate experts. I hope Adrian has the stones to do the right thing and get rid of the dead wood and let markets including the housing market correct.

    Poor Adrian is being blamed for the recession, low interest rates and easy money is the only thing people understand. Perhaps they should move to Zimbabwe not sure what their interest rates are but I know they have had plenty of money printing.

    https://www.msn.com/en-nz/news/natio...2279baad&ei=18

    Would crypto currencies even exist without all the liquidity (money printing). What a massive waste of power. Fortunately not a lot of time or effort involved speculating in crypto currencies.
    Last edited by Aaron; 22-03-2024 at 08:19 AM.

  2. #1232
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    Quote Originally Posted by Aaron View Post
    An economist for a fund manager expects Adrian to make a rate cut of 1%. Much like bank economists and real estate experts. I hope Adrian has the stones to do the right thing and get rid of the dead wood and let markets including the housing market correct.

    Poor Adrian is being blamed for the recession, low interest rates and easy money is the only thing people understand. Perhaps they should move to Zimbabwe not sure what their interest rates are but I know they have had plenty of money printing.

    https://www.msn.com/en-nz/news/natio...2279baad&ei=18

    Would crypto currencies even exist without all the liquidity (money printing). What a massive waste of power. Fortunately not a lot of time or effort involved speculating in crypto currencies.
    I would be very surprised to see that.
    I've been calling for rate cuts for ahead of the market for some time, I.e first 3 - 6 months of 2024. Perhaps a 50bp cut, but I think more likely 25bps as inflation although a lagging indicator is still a lot higher than the 1 - 3% target band.

    That ANZ Economist who called for a rate rise last month got the publicity she was looking for, but now just looks foolish.

  3. #1233
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    Quote Originally Posted by Daytr View Post
    I would be very surprised to see that.
    I've been calling for rate cuts for ahead of the market for some time, I.e first 3 - 6 months of 2024. Perhaps a 50bp cut, but I think more likely 25bps as inflation although a lagging indicator is still a lot higher than the 1 - 3% target band.

    That ANZ Economist who called for a rate rise last month got the publicity she was looking for, but now just looks foolish.
    I wish my memory was better, but I don't recall a lot of strident calls for rates rises when house prices were going gang busters and mortgage rates were 2-3%, just endless conversation about how much everyone was making and how high prices could go. Adrian was talking about the banks preparing for negative interest rates without so much as a peep from the experts about how insane that would be.

    Winner might have suggested the RBNZ was a bit off but I do not recall many others.

    The financialisaton of the economy has resulted in a lot of pointless activity such as property speculation, crypto currencies and day trading. Perhaps savers and investors should get a return on investment and the dead wood speculators can go for a long overdue skate.

    Although that might be bad news for my favourite online forum.
    Last edited by Aaron; 22-03-2024 at 10:28 AM.

  4. #1234
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    Not RBNZ related but as I have hijacked a thread I will try not to spread my bs too far. The jist of my post is Anti growth and anti immigration so sort of follows along with what the RBNZ's mandate is, growth, growth, growth, inflation, inflation, inflation.

    Interesting that I am not alone in being concerned at the sheer numbers of immigrants coming in.

    https://www.interest.co.nz/public-po...grant-arrivals

    I vaguely recall reading somewhere that when things go bad people always blame the immigrants but perhaps we should blame the National and Labour parties as they are responsible.

    https://www.interest.co.nz/public-po...grant-arrivals

    Interesting conclusion that I would whole heartedly endorse. Still cannot see why successive govts want to f*ck the country up with overcrowding, other than perhaps it makes GDP look good.

    The logical thing for the Government to do right now would be - as far is is practically possible - close the border for new arrivals while there is a 'reset'. But of course that won't happen under this Government.

    What we will likely get is the running of a line that says fewer people will want to come as our economy languishes and as unemployment starts to grow.

    But I ask you, look at where most of the new non-NZ arrivals are coming from. For a lot of people, it is not that they want to COME to NZ. It is that they want to LEAVE where they are. And that won't change. As long as people can come here they will come.

    We've already given ourselves a huge bout of future indigestion by the massive swathes of people that have come here since August 2022 regardless of what happens from now.

    This needs decisive action. When you are in a hole, stop digging.
    Last edited by Aaron; Today at 08:58 AM.

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