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  1. #1221
    Speedy Az winner69's Avatar
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    Quote Originally Posted by winner69 View Post
    Orr can’t be any worse than Wheeler even though he has ‘endorsed’ Wheeler’s recent actions and outlook.

    The RB is fueling an inflation problem that will require numerous hikes in the future resulting in an inevitable recession in 2019/2020

    They seem blindfolded with some idealistic views at the moment. I hope Orr can see what might happen and start acting now before it’s too hard and all too late

    Good luck to him ....seems a nice enough guy.
    From 2018 ….always good to look back

    Even without a pandemic the country was going to be in trouble the way Orr was thinking back then
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  2. #1222
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    Quote Originally Posted by winner69 View Post
    From 2018 ….always good to look back

    Even without a pandemic the country was going to be in trouble the way Orr was thinking back then
    prescient views, where do we go from here? How should I invest? Has Orr learnt his lesson or does he think it is all a big joke. Any chance of a stable currency or is leverage still the way to go, as long as it is not for FBU or OCA or SML or anyone else cutting dividends.

    https://www.nzherald.co.nz/business/...M32IE43BIWLYI/

    The article talks about crypto currencies but there is no limit to them either. Adrian suggests “A Bitcoin, it’s neither a means of exchange, it’s not a store of value or it’s not a unit of account. Yet people try to use it as that."

    Dollars are still a means of exchange but some people must be getting sceptical that they are a store of value and definitely not a stable unit of account at least not according to my grocery bill.

    Sounds like Adrian doesn't "believe in money" but hopes that everyone else continues to do so.

  3. #1223
    Advanced Member Valuegrowth's Avatar
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    I agree easy money bring calamities to the world. I can remember Dr Bollard warned about easy money in 2007, that they are not going to last, and risk involved in borrowing. What happened after that was a history. We saw bankruptcy worldwide.

    https://www.interest.co.nz/opinion/6...-bank-governor

    "Alan Bollard has managed the blunt instrument of the Official Cash Rate (OCR) and the much less simple instruments of banking regulation through New Zealand’s strongest period of economic growth in 50 years and then its deepest and longest recession in 20 years.

    During this period of extraordinary volatility punctuated by a housing boom and huge moves in the exchange rate, he broadly stuck to his mandated target of keeping consumer price inflation within his Policy Target Agreement of 1-3% over the 10 years of his governorship.

    He also regulated and managed New Zealand’s banking system as it reacted to the near collapse of the global financial system in late 2008. Under his leadership (and despite a series of debilitating migraines he has talked about in his financial crisis book), Bollard had to deal with the imposition of a deposit guarantee scheme he did not want and the almost entire collapse of New Zealand’s finance company sector.

    The Reserve Bank acted decisively to fund New Zealand’s ‘Too Big To Fail’ banks in late 2008 and early 2009 when they were cut off from international funding during the post-Lehman collapse freeze.

    This was his finest hour. New Zealand’s banking system and economy coped much better than almost everywhere else in the developed world, at least in part to the Reserve Bank’s decisive and often brave action in the face of critics (like me) and all sorts of precedents.

    This was his finest hour. New Zealand’s banking system and economy coped much better than almost everywhere else in the developed world, at least in part to the Reserve Bank’s decisive and often brave action in the face of critics (like me) and all sorts of precedents.

    The last four years has cemented Dr Bollard’s reputation as one of New Zealand’s finest public servants.

    The judgement on the previous 6 years is not so glorious. He did meet his inflation targets, but many argue he missed the significance of the biggest build up in foreign and housing debt in New Zealand’s history. Some believe he held interest rates too low and for too long, particularly during 2006 when the housing market got a second wind. Bollard himself in his final news conference acknowledged the bank could have used 'macro-prudential tools' such as loan to value ratio limits to control that housing boom.

    Ultimately, this buildup of foreign debt and the associated surge of capital flows that pushed up the New Zealand dollar, is limiting the New Zealand economy. It unleashed a structural strengthening of the New Zealand dollar that has restructured the New Zealand economy towards importing, consuming and borrowing and away from the very things we need -- producing, saving and exporting."

  4. #1224
    Speedy Az winner69's Avatar
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    Bollard only had to fix what he caused …….as article goes “The judgement on the previous 6 years is not so glorious. He did meet his inflation targets,”

    Some called Bollard’s actions when taking over as Governor as his ‘go for growth experiment’ ….with inevitable boom and bust

    Unfortunately Orr had same tendencies
    Last edited by winner69; 18-02-2024 at 08:15 AM.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  5. #1225
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    Speaking of growth not RBNZ related but seems to tie in with the go for growth insanity.

    https://www.msn.com/en-nz/news/natio...d2e69340&ei=10

    Economist points out immigration is open slather to keep wages down. We are not bringing in skilled doctors and nurses that people keep banging on about. They will be going to Australia or the US for better wages.

    Labour or National both total mickey mouse operators if you ask me. The NZ and USA let "business" export manufacturing jobs to countries with the lowest wages. Service industry jobs can't be exported overseas so they want to import cheap labour.

    When will Kiwis workers wake up and say NO to this bullsh*t.

  6. #1226
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    Maybe National will address this issue

    https://www.youtube.com/watch?v=dZo8VONXteU

    half are unskilled labour not likely to drive productivity in NZ.

    It really got going under John Key and I suspect Erica talks with a forked tongue on reducing immigration. We will see. She said they are discussing a longer term plan. Surprising 12 years without a plan, crazy stuff.

  7. #1227
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    Jarrod Kerr thinks the RBNZ is there to help Banks and Homeowners.

    https://www.newshub.co.nz/home/money...-decision.html

    What a fu*kwit.

    It's called risk and reward. If you take the risk out of the equation it is more a case of "heads I win, tails you lose"
    Last edited by Aaron; 24-02-2024 at 08:46 AM.

  8. #1228
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    Unsurprising reading this, basically immigration NZ is totally incompetent and a shambles and the governments overseeing them are making things worse.

    https://www.msn.com/en-nz/news/natio...fb6b2e5c&ei=21

    Close the whole lot down, close the door to immigrants, sort it out and then maybe use the beggar thy neighbour approach to cherry pick their best and brightest as our best and brightest are being cherry picked by wealthier countries. With the current NZ, I'm alright right Jack, low tax, small govt, lets not invest in our nation, third world approach it is probably the best way forward. I would suggest raising taxes and investing in young people but this runs counter to setting NZ up as a retirement paradise for baby boomers.

    The winners are unscrupulous businesses exploiting third world developing nation citizens, working the system here in NZ and these poor buggers have paid their life savings to get out of the third world to a developed country that is not set up to help them out.

    The biggest loser is NZ and our way of life.

    Result, Chris Bishop wants to double the population to make us more efficient??????? Basically more of the same but on a larger scale. F*ck me.

    I like Matthew Hooton's opinion piece this morning, keeping in mind it is just that more opinion.

    To quote;

    Fifteen years of focus groups setting policy have delivered just one thing: a country symbolised by a leader without a decent house in Wellington nor a functioning plane to do business abroad.

    I was surprised to learn that Labours tax policy was decided by focus groups. Who are these mysterious focus groups? Shouldn't we know more about them if they drive govt policy. Are our MPs just talking heads told what to say by spin doctors getting their feedback from "focus groups".
    Last edited by Aaron; 08-03-2024 at 08:23 AM.

  9. #1229

  10. #1230
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    Good to see record immigration doing what it was designed to do, fudging the GDP numbers. More people consuming more stuff, always good. Not as good as war or natural disaster but handy none the less.

    https://www.msn.com/en-nz/news/natio...277adc683&ei=9

    Also inflation is good for fudging and confusing everything, no wonder it is so popular with our leaders. I see it carries on unabated.

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