sharetrader
Page 125 of 131 FirstFirst ... 2575115121122123124125126127128129 ... LastLast
Results 1,241 to 1,250 of 1306
  1. #1241
    Permanent Newbie
    Join Date
    Mar 2010
    Posts
    2,738

    Default

    Heard Jarrod Kerr (kiwibank economist) on national radio this morning. So enraged I felt the need to post.

    Snippets from the conversation that I recall. Jarrod said the RBNZ is hurting households with high rates. Perhaps he should have said "home owners" or "asset owners" or "landed gentry". The bottom half of society is not being affected by the interest rates, in fact if it brings inflation down they should be better off.

    Jarrod thinks the RBNZ should get more creative how it measures inflation and should allow for some structural inflation (rates & insurance). In other words accept higher inflation.

    What a di*k. I don't suppose he ever criticised the RBNZ when rates were too low for too long. Or when Adrian opened his dumb trap and suggested negative interest rates. Inflation is hurting the bottom half of the nation but economists don't understand this. They only want asset price inflation, it is all they have known for the last thirty years. Yield doesn't even matter anymore it has got so crazy.

    In other good news the S&P500 down for a third day in a row so rates cuts not far away. Gold bugs should give thanks to the Chinese central bank and Chinese investors, if what I read is correct. Sounds like china might be moving away from bubblenomics to something more real but I doubt it.

    I am waiting for an "economist" to suggest interest rates should be set by supply and demand. Although I am not sure what that would look like, I do know I don't like what is happening at the moment.

    Thinking about it further a bit silly suggesting interest rates be set by supply and demand for capital as there will always be limitless demand for capital and in a fiat world there is always limitless supply especially when you have clowns like Adrian and Jerome.
    Last edited by Aaron; 17-04-2024 at 10:23 AM. Reason: silly sugeestion re supply and demand

  2. #1242
    Permanent Newbie
    Join Date
    Mar 2010
    Posts
    2,738

    Default

    This guy popped up on youtube. The algorithms doing their job with confirmation bias or sending me down a rabbit hole.

    Australia exactly the same as NZ housing is a ponzi that needs cheap money and lots of immigration. It is just that the numbers are starting to look crazy as they get more and more extreme.

    https://www.youtube.com/watch?v=kjZTpUWAaYc

    Still if you are invested in a ponzi scheme you definitely do not want it to stop and that could be why no politician or party is proposing any significant change.

  3. #1243
    Guru
    Join Date
    Sep 2009
    Posts
    3,192

    Default

    Finally some signs of inflation relief?

    "Oil Extends Slump Below $80 a Barrel After US Stockpiles Swell"

    https://finance.yahoo.com/news/oil-e...234247967.html

  4. #1244
    Permanent Newbie
    Join Date
    Mar 2010
    Posts
    2,738

    Default

    Lucky unemployment has been taken away as the RBNZs responsibility or we might already have the long awaited for rate cuts.

    https://www.nzherald.co.nz/business/...KCNKD7HTMANKY/

    Exacerbating wealth inequality helps no one in the long run.

    https://www.zerohedge.com/markets/fe...alth-gap-chasm

    Not a NZ example but we have the same sort of people in charge.

  5. #1245
    Permanent Newbie
    Join Date
    Mar 2010
    Posts
    2,738

    Default

    Probably behind a paywall so no good for some of you.

    https://www.nzherald.co.nz/business/...NKFS42ENL7FZU/

    Talks about the RBNZ balance sheet expansion, LSAP and Funding For Lending. Some quotes.

    The RBNZ becoming such an active player in the bond market also helped suppress bond yields, which ultimately affect mortgage and term deposit rates. The RBNZ wanted rates to be low to encourage more borrowing and less saving. Once the RBNZ realised its work stimulating the economy (too much) was done, it got Treasury to agree to start buying the bonds back and retiring them.

    The issue is this whole exercise, which supported the economy through the peak of the pandemic, is now costing taxpayers.

    Treasury is having to borrow more (in a high interest rate environment) to get the funds to buy the bonds back from the RBNZ.

    The rise in interest rates has also seen the value of the bonds the RBNZ bought fall. Treasury is sending money the RBNZ’s way every month to cover the cost of these losses, ultimately expected to total about $11b.

    Taking a step back, it’s highly debatable whether going as big on money-printing as the RBNZ did was worth it.

    The Funding for Lending programme is deemed by many experts to have been unnecessary, while some have argued - in hindsight - the RBNZ didn’t need to buy as many bonds as it did.


    The funding For Lending and interest rate suppression drove house prices to ridiculously high levels. Adrian and the MPC probably don't mind but some old fashioned fair minded kiwis might not like the idea of a govt organisation actively supporting the wealthy at the expense of the less wealthy (via a cost of living crisis and being shut out of the housing market.)

    The RBNZ is buying up foreign currencies, or assets tied to foreign currencies, to give itself the firepower to intervene in the currency market if there’s a crisis.

    I wonder why the RBNZ feels the need to interfere in the currency market, perhaps they think that sensible people watching Adrian debase the currency might conclude that it is dangerous to hold NZ dollars while Adrian is in charge. Oh the tangled webs we weave.

  6. #1246
    Guru
    Join Date
    Sep 2009
    Posts
    3,192

    Default

    "Competition, oddities and RBNZ's conspicuous no-show"
    "Jenny Ruth's Just the Business"

    https://substack.com/@justthebusines...m_medium=email


    "The Reserve Bank was conspicuous by its absence at the first day of the Commerce Commission's conference on competition in personal banking services.

    That's even though the subjects for discussion included the impact of RBNZ's prudential regulation on competition and concerns about the impact of the deposit insurance scheme once it comes into effect.

    The importance the major banks place on the commission's study of banking competition was highlighted by the fact that all four chief executives of the four major banks were present at the conference.

    That made RBNZ's absence all the more conspicuous.

    Of course, RBNZ had already published its reaction to ComCom's draft report, basically rejecting everything ComCom had to say about the regulatory barriers to competition.

    That could be, and has been, characterised as RBNZ's contempt for the commission's inquiry..."

  7. #1247
    Speedy Az winner69's Avatar
    Join Date
    Jun 2001
    Location
    , , .
    Posts
    39,196

    Default

    Adrian needs help ….good lurk this job ….few hundred thousand? One pre-requisite is the ability to translate / talk what is almost a foreign language they use.

    Statement from a spokesperson for the Reserve Bank of New Zealand regarding the role of Principal DE&I Advisor which they are currently recruiting for via an agency. The role is not being publicly advertised.

    "We are currently recruiting for the role of Principal Diversity, Equity & Inclusion (DE&I) Advisor. The Reserve Bank of New Zealand – Te Pūtea Matua (RBNZ) is New Zealand’s central bank and we are tasked with promoting the prosperity and wellbeing of all New Zealanders and contributing to a sustainable and productive economy.

    Globally, and within Aotearoa New Zealand, financial inclusion is increasingly recognised as an important feature of a modern financial system that supports efficiency, prosperity, resilience and wellbeing. We see an inclusive financial system as one in which all New Zealanders have reasonable access to financial products and services that meet their needs.

    Diversity, equity and inclusion are a critical part of our strategic approach and key to achieving our vision of being a ‘Great Team, Best Central Bank’. It means broadening our workforce, our approach to stakeholder engagement, and our policy knowledge to become a more inclusive, effective, and innovative central bank.

    The Bank’s Diversity, Equity and Inclusion Strategy is key to enhancing and unlocking the potential of our people, our policies, and the economic well-being of all New Zealanders. By broadening our talent pool to include people with range of perspectives, experiences and abilities we are able to create the intellectual capability to dig deep into complex issues and adopt a wider lens to research, advice, and how we approach problems.

    The other benefits of diversity, equity inclusion strategies within organisations are well documented and include enhanced decision-making, risk mitigation, innovation. This work is in line with central banks globally and our modernised legislation, our commitments as set out in our Te Tiriti o Waitangi Statement, and in step with public and private stakeholders who also have an important role to play in building a more inclusive financial system."
    Last edited by winner69; 15-05-2024 at 03:49 PM.
    ”When investors are euphoric, they are incapable of recognising euphoria itself “

  8. #1248
    Guru
    Join Date
    May 2009
    Posts
    3,298

    Default

    Quote Originally Posted by winner69 View Post
    Adrian needs help ….good lurk this job ….few hundred thousand? One pre-requisite is the ability to translate / talk what is almost a foreign language they use.

    Statement from a spokesperson for the Reserve Bank of New Zealand regarding the role of Principal DE&I Advisor which they are currently recruiting for via an agency. The role is not being publicly advertised.

    "We are currently recruiting for the role of Principal Diversity, Equity & Inclusion (DE&I) Advisor. The Reserve Bank of New Zealand – Te Pūtea Matua (RBNZ) is New Zealand’s central bank and we are tasked with promoting the prosperity and wellbeing of all New Zealanders and contributing to a sustainable and productive economy.

    Globally, and within Aotearoa New Zealand, financial inclusion is increasingly recognised as an important feature of a modern financial system that supports efficiency, prosperity, resilience and wellbeing. We see an inclusive financial system as one in which all New Zealanders have reasonable access to financial products and services that meet their needs.

    Diversity, equity and inclusion are a critical part of our strategic approach and key to achieving our vision of being a ‘Great Team, Best Central Bank’. It means broadening our workforce, our approach to stakeholder engagement, and our policy knowledge to become a more inclusive, effective, and innovative central bank.

    The Bank’s Diversity, Equity and Inclusion Strategy is key to enhancing and unlocking the potential of our people, our policies, and the economic well-being of all New Zealanders. By broadening our talent pool to include people with range of perspectives, experiences and abilities we are able to create the intellectual capability to dig deep into complex issues and adopt a wider lens to research, advice, and how we approach problems.

    The other benefits of diversity, equity inclusion strategies within organisations are well documented and include enhanced decision-making, risk mitigation, innovation. This work is in line with central banks globally and our modernised legislation, our commitments as set out in our Te Tiriti o Waitangi Statement, and in step with public and private stakeholders who also have an important role to play in building a more inclusive financial system."
    Pretty much sums up why Orr's performance as RBNZ Gov has been so dire. Go woke go broke.

    This little gem is extraordinary. " Te Pūtea Matua (RBNZ) is New Zealand’s central bank and we are tasked with promoting the prosperity and wellbeing of all New Zealanders"

    No, Adrian. The RBNZ's primary tasks are set out on your own website. Do those with some competency for crying out loud!

  9. #1249
    Legend peat's Avatar
    Join Date
    Aug 2004
    Location
    Whanganui, New Zealand.
    Posts
    6,505

    Default

    Reddel launching at the RBNZ again

    Listening to the press conference for the first time in a while just confirmed a sense of how inadequate the MPC, and its chair, are for the job they've been charged with. They didn't have a straight story to tell, and they were trying to backaway from the clear implication of numbers they'd chosen to publish. To which one could add yet another appearance saying nothing of substance from the deputy chief executive responsible for macroeconomics and monetary policy atthe Bank, or a Governor who chose to opine on productivity growth or the lack of it, suggesting that things were different (better) in Australia, even though recent productivity growth there has been just as weak as in New Zealand. Why are these people - having delivered us the inflationary mess in the first place- still in office? New Zealanders deserve better from officials - supposedly expert ones - delegated so much power. Apart from anything else they deserve real expertise and real accountability.
    For clarity, nothing I say is advice....

  10. #1250
    Speedy Az winner69's Avatar
    Join Date
    Jun 2001
    Location
    , , .
    Posts
    39,196

    Default

    Quote Originally Posted by peat View Post
    Reddel launching at the RBNZ again

    Listening to the press conference for the first time in a while just confirmed a sense of how inadequate the MPC, and its chair, are for the job they've been charged with. They didn't have a straight story to tell, and they were trying to backaway from the clear implication of numbers they'd chosen to publish. To which one could add yet another appearance saying nothing of substance from the deputy chief executive responsible for macroeconomics and monetary policy atthe Bank, or a Governor who chose to opine on productivity growth or the lack of it, suggesting that things were different (better) in Australia, even though recent productivity growth there has been just as weak as in New Zealand. Why are these people - having delivered us the inflationary mess in the first place- still in office? New Zealanders deserve better from officials - supposedly expert ones - delegated so much power. Apart from anything else they deserve real expertise and real accountability.
    He’s right as usual.

    Next time I have a coffee with Michael I’ll tell a guy called Peat reads his stuff.
    ”When investors are euphoric, they are incapable of recognising euphoria itself “

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •