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  1. #431
    Senior Member TeslaGod's Avatar
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    Aaron you need to show more compassion in these uncertain times, just remember Orr is just trying to protect my assets, you need to stop being so self centered. I have a large portfolio, do you understand how many millions would be wiped of my net worth if the NZ property dropped 10% ?? I honestly believe you only have your own best interest at heart.

  2. #432
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    Quote Originally Posted by TeslaGod View Post
    Aaron you need to show more compassion in these uncertain times, just remember Orr is just trying to protect my assets, you need to stop being so self centered. I have a large portfolio, do you understand how many millions would be wiped of my net worth if the NZ property dropped 10% ?? I honestly believe you only have your own best interest at heart.
    Correct, me and all the other poor people and the younger generation. I think the countries with the biggest middle classes tend to be the ones that do better overall. I appreciate you and Mike Hosking may not see this as aspirational but we can't all be better than average.
    Why should overleveraged speculators benefit at the expense of savers.

    It used to be called taking a "risk" if things did not work out you went bust and provided an opportunity for someone else to make the investment work at a lower price. You didn't need central planning from the RBNZ to make it work.

  3. #433
    Senior Member TeslaGod's Avatar
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    Quote Originally Posted by Aaron View Post
    Correct, me and all the other poor people and the younger generation. I think the countries with the biggest middle classes tend to be the ones that do better overall. I appreciate you and Mike Hosking may not see this as aspirational but we can't all be better than average.
    Why should overleveraged speculators benefit at the expense of savers.

    It used to be called taking a "risk" if things did not work out you went bust and provided an opportunity for someone else to make the investment work at a lower price. You didn't need central planning from the RBNZ to make it work.
    Since your obviously a doomer, I'll share some advice, when skies are grey I like to watch this clip to cheer me up https://youtu.be/UJOjTNuuEVw

  4. #434
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    Quote Originally Posted by TeslaGod View Post
    Move to a low or no growth nation instead of complaining, stop moaning at those who have all the power and the wealth, if you disagree, just make sure you have enough funds in your bank account to pay rent this week.
    NZ is already a low growth country compared to other nations that put housing affordability higher on the scale while encouraging investments into businesses and the equity markets. Notably US, Canada, Australia, etc have exceedingly much higher GDP/capita than NZ and the trend is clear. NZ's productivity is decreasing.

    As Ray Dalio said, "Not all central banks around the world have the same impact ability". He's saying when the US central bank lowers rates, the productivity is spread across to more areas in their economy. When the RBNZ lowers interest rates, it ONLY appeals to the rich that have set their seed in owning multiple residential houses.

  5. #435
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    Productivity in NZ is woeful ….even in the much touted tech sector

    RBNZ actions do little to overcome this
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  6. #436
    Senior Member TeslaGod's Avatar
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    Quote Originally Posted by SBQ View Post
    NZ is already a low growth country compared to other nations that put housing affordability higher on the scale while encouraging investments into businesses and the equity markets. Notably US, Canada, Australia, etc have exceedingly much higher GDP/capita than NZ and the trend is clear. NZ's productivity is decreasing.

    As Ray Dalio said, "Not all central banks around the world have the same impact ability". He's saying when the US central bank lowers rates, the productivity is spread across to more areas in their economy. When the RBNZ lowers interest rates, it ONLY appeals to the rich that have set their seed in owning multiple residential houses.
    Ray Dalio was referring to developing nations central bank's, they can't print money because there local currency is crap compared to those of Western wealthy developed nations like NZ.

  7. #437
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    Quote Originally Posted by TeslaGod View Post
    Since your obviously a doomer, I'll share some advice, when skies are grey I like to watch this clip to cheer me up https://youtu.be/UJOjTNuuEVw
    Quite the opposite, I like to think my views are ones that provide hope and opportunity for everyone if they are willing to work hard and make good decisions and that social mobility will continue for all NZers not just those born into wealth.

    Central banks pushing up asset prices may create the "wealth effect" to encourage consumption but I think they have been doing too much for too long.

  8. #438
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    Behind the paywall but sounds a lot like forecasts made by others on this site.

    https://www.nzherald.co.nz/business/...5PWLVHZ5RZSMA/

    Mark Fowler: Why long-term interest rates are more likely to fall.

    - Financialisation of the economy. Finance is already at least five times larger than the real economy and it will continue to grow. I wonder how that compares to past decades? House price rises anyone?

    -Technology reducing prices

    - Demographics - but here instead of saying retiring old people spend less he said the number of poor people will grow and they will spend less as more wealth and income flows/trickles up to fewer hands.

    Admits it is a house of cards but that is also why interest rates won't rise as that would bring the house of cards down.

    Makes me sad but you get what you vote for. Although we didn't vote for Adrian Orr but he is the great enabler.

  9. #439
    Senior Member TeslaGod's Avatar
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    Quote Originally Posted by Aaron View Post
    Behind the paywall but sounds a lot like forecasts made by others on this site.

    https://www.nzherald.co.nz/business/...5PWLVHZ5RZSMA/

    Mark Fowler: Why long-term interest rates are more likely to fall.

    - Financialisation of the economy. Finance is already at least five times larger than the real economy and it will continue to grow. I wonder how that compares to past decades? House price rises anyone?

    -Technology reducing prices

    - Demographics - but here instead of saying retiring old people spend less he said the number of poor people will grow and they will spend less as more wealth and income flows/trickles up to fewer hands.

    Admits it is a house of cards but that is also why interest rates won't rise as that would bring the house of cards down.

    Makes me sad but you get what you vote for. Although we didn't vote for Adrian Orr but he is the great enabler.
    I have already informed you of this did you pay attention?

    This is why I am in the financial position I'm in, so don't get angry with me, take my free advice.

    Note: I didn't vote for it I invested in it.

    Government don't make me wealthy the markets do.
    Last edited by TeslaGod; 20-09-2021 at 01:11 PM.

  10. #440
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    Quote Originally Posted by TeslaGod View Post
    I have already informed you of this did you pay attention?

    This is why I am in the financial position I'm in, so don't get angry with me, take my free advice.

    Note: I didn't vote for it I invested in it.

    Government don't make me wealthy the markets do.
    Yes that is why I said "others on this site" in the original post. Did not want to use your name directly as you have a big enough head as it is.

    The markets make you wealthy?? The most important price in capitalism is the price of capital and that is centrally controlled and has been going down for 30 years to help overleveraged asset owners and risk takers.

    A highly leveraged property developer, has been made wealthy from govt policy. The change to targeted inflation in the 1990s has been a govt guaranteed gain for property investors.

    Becoming more obvious with each passing decade. Wealth inequality is increasing and that is mostly due to govt/central bank policy. Admittedly some of us are slower than others and keep expecting the govt do the right thing and scrap targeted inflation (particularly a Labour govt) even if it is unpopular with home owners. Rather politicians pretend they are actually concerned about asset prices increasing faster than wages and do some tinkering for show.

    Although I am sure your success is largely down to your investment brilliance and risk taking though. "Moral Hazard" what does that phrase mean again and why has it gained relevance since 2008/09, I can't remember?

    A Central Bank guaranteed bail out must help in times of strife, so it is good to see the central bank and Adrian Orr supporting those most in need.

    What would we have done if house prices went down 10% as predicted prior to Adrian's Large Scale Asset Purchase and interest rate cut.
    Last edited by Aaron; 20-09-2021 at 01:51 PM.

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