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  1. #541
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    I wouldn't mind betting you would get a lot more action from the RBNZ if they were 66% below their inflation target rather than the current 66% above target.

    https://www.stuff.co.nz/business/126...-jump-almost-5

    sickening

  2. #542
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    Quote Originally Posted by Aaron View Post
    I wouldn't mind betting you would get a lot more action from the RBNZ if they were 66% below their inflation target rather than the current 66% above target.

    https://www.stuff.co.nz/business/126...-jump-almost-5

    sickening
    Inflation erodes my debt in real estate

    All I do is win!

  3. #543
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    Quote Originally Posted by TeslaGod View Post
    Inflation erodes my debt in real estate

    All I do is win!
    I know, it doesn't seem right that the "risk takers" get central bank support while people who work and save to accumulate capital get robbed by those same policies. As you say a different mindset, an inflation free lunch. The current rising prices in things other than assets might ruin the master plan if Adrian is forced to pretend to make an effort to reduce inflation as life gets harder for a majority of people.

    I feel for the superannuitants who didn't manage to save for retirement for whatever reason. Not that Adrian would care, or Jacinda for that matter.

  4. #544
    Senior Member TeslaGod's Avatar
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    Quote Originally Posted by Aaron View Post
    I know, it doesn't seem right that the "risk takers" get central bank support while people who work and save to accumulate capital get robbed by those same policies. As you say a different mindset, an inflation free lunch. The current rising prices in things other than assets might ruin the master plan if Adrian is forced to pretend to make an effort to reduce inflation as life gets harder for a majority of people.

    I feel for the superannuitants who didn't manage to save for retirement for whatever reason. Not that Adrian would care, or Jacinda for that matter.
    Yes not much I don't disagree with on your post Aaron.

    Which is why I don't work, don't save, don't earn an income and made more in last week in a *5 day trading period than most sheep I mean Kiwis make in a year.

    Get angry all you want, the system is designed to protect me not you.

    *(I can also lose more in a week than Kiwis earn in a year)
    Last edited by TeslaGod; 19-10-2021 at 08:14 AM.

  5. #545
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    Quote Originally Posted by TeslaGod View Post
    *(I can also lose more in a week than Kiwis earn in a year)
    But you can sleep easy knowing the central banks will jump into action with interest rate cuts and money printing if your asset prices drop.

    My anger is toward the central planners who would rather hurt savers and protect speculators. A poor investor/speculator should go bust if they make a bad investment and not let central banks steal from the savers through currency debasement/inflation to make them whole.

    Obviously I am in a minority with this view.

    Moral hazard, what's that?

    In some ways I guess central banks have given up on their respective currencies and price stability and I guess it is up to me to invest accordingly and stop whining.
    Last edited by Aaron; 19-10-2021 at 09:42 AM.

  6. #546
    Senior Member TeslaGod's Avatar
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    Aaron

    I like to gloat about my wealth

    But what's really sad

    I'm barely scraping the bottom of the barrel of the 1% of those that hold the wealth of the world.

    To them, my 8 figure networth is a dead bug on there private jet.

  7. #547
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    Quote Originally Posted by TeslaGod View Post
    Still believe Adrian Orr and company pulled the trigger to early lowering the OCR.

    Inflation data although higher is slowing overseas in major economies like China and the US.

    Adrian can't control higher import prices like gas at the pumps.

    Higher interest rates and import costs are going to slow business recovery from Aucklands imprisonment..don't expect a xmas bonus with your holiday pay.
    ANZ chief analyst
    "This new track sees the OCR reach 2% in August 2022."
    But the ANZ economists are continuing with their cautionary view that something could go wrong in the meantime that will force the RBNZ to re-evaluate the interest rates picture.
    "It is important to highlight that although we are raising our central OCR forecast, we still think there is a significant risk that something happens to derail the hiking cycle before its completion," the economists say.
    "Indeed, these risks are intensifying, if anything."


    Nah really? You fink?

    https://www.interest.co.nz/business/...oses-challenge

    Negative interest rates coming mid decade.
    Last edited by TeslaGod; 20-10-2021 at 02:15 PM.

  8. #548
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    Quote Originally Posted by TeslaGod View Post
    Yes not much I don't disagree with on your post Aaron.

    Which is why I don't work, don't save, don't earn an income and made more in last week in a *5 day trading period than most sheep I mean Kiwis make in a year.

    Get angry all you want, the system is designed to protect me not you.

    *(I can also lose more in a week than Kiwis earn in a year)

    On a good day, my stock portfolio can gain (or lose) more than what Jacinda earns in a year. But I never gloat about it. However I do have a guilty conscious if those gains were from ownership of houses. The other day my neighbour was asking me what happened to the house next to them (being all empty and asked if it was going for sale ; because for the past 3 years it's been owned by a rental consortium). Clearly they were not happy of the noises and problems from tenants moving in and house of that house like a train station. So they asked me if "Are you going to buy it?". Because 3 doors down I bought the house where my inlaws live. As you say if the system is designed to protect the home owners, then it's clear they can not differentiate to protect those that use homes as rentals. Certainly such rental outfits are deemed undesirable in neighbourhoods owned mostly by principle resident home owners. I told the neighbour I have no interest in owning more houses. It was wifey's demand but in my mind, I could not help think that if that same amount of $ was invested in the same US stocks I had, we would be far more wealthier.

    As people I meet in NZ tell me about how you get very rich by owning lots of houses... and how house ownership investments has influenced on my wife's view of making money. But I tell her all you are doing is trying to make me LESS wealthy by owning houses. My share gains have far far exceeded by multiples than owning houses in NZ.

    TeslaGod, as you say you're only scraping the bottom of the barrel of the 1% in the world. My point is none of them will get to that level by owning a bunch of houses. On most part, the richest of the world have achieved it in way more similar to what i've done (through stock market investments). To gloat about how rich you are because you own a bunch of houses and had the benefit of the central bank is of no feat whatsoever.

  9. #549
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    I wonder if they will consider if the RBNZ policy of pushing up asset prices so people feel wealthy and spend and consume more plays any part in climate change.

    To much to hope for I suppose.

    https://www.interest.co.nz/banking/1...could-have-its

    I would guess it will turn out to be a ridiculous waste of time and money. To be fair they do state they are only looking at the impacts of climate change not the cause.

  10. #550
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    Nothing new under the sun but I like confirmation bias.

    https://www.smh.com.au/business/the-...26-p5934h.html

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