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  1. #11
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    Quote Originally Posted by Logen Ninefingers View Post
    Such complacency in the responses. Either being dismissive or posting red herrings seems to be the way to go. It wasn't STUFF making the comments on risky lending, it was the second in command at the Reserve Bank.

    I also have to laugh at the comments about so-called 'capitalism'. Under capitalism saving is supposed to the be the engine-room, the driver fueling investment & growth. This joke zombiefied system that we have had foisted on us since the GFC is just about constant interest rate suppression and state money printing, and savers can go to hell.

    The definition of 'capitalism' in NZ seems to be 'a bunch of good buggers reaping huge capital gains off the housing market', and 'socialism' is 'a bunch of bludgers sitting on the benefit - no wonder they can't get ahead'.

    Now we have a Reserve Bank who are supposed to be keeping inflation within a set band, and now it pops up to 3.3% suddenly the government hands them additional tools to 'deal with housing', and we have government ministers such as Stuart Nash talking about "loooking through" inflation.
    Translation: the so-called 'independent' Reserve Bank will ignore their inflation mandate (hand in glove with the government) and again favour housing asset owners over everyone else.
    But now they are trying to get a camel through the eye of a needle: they need to keep house prices rising moderately, while decreasing the pool of buyers, while checking inflation, while dealing with a rent crisis, while meeting the aspirations of young first home buyers. In other words, they need to do the impossible.
    Well said.

    As for TeslaGod. Most people in NZ do not invest in shares or have a clue about it. Instead like yourself, they use houses as a tool for financial gain (without considering who pays for the cost in society). I dunno about you but I don't like to leave people behind just because you can own houses, and your friend can't even own their 1st home.

    If you don't feel that you're a product of the housing problem in NZ, then I would say that's a pretty selfish way of thinking.

  2. #12
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    Quote Originally Posted by TeslaGod View Post
    @Logan Nine fingers.

    This is share trader forum

    You know, Shares in multi billion dollar companies.
    Debt, investment,risk , interest rates,margin, freemarket ,greed and all the things that capitalism is.

    Interest.co.nz and the comments section of stuff media is the ideal place for your ideology.
    So how is the 'freemarket' in evidence when we have interest rate suppression by the state & state money printing? I think you have a strange idea of what constitutes a free market. Trust me, that ain't a free market.

    If you want to comment on shares, go comment on shares.

  3. #13
    Senior Member TeslaGod's Avatar
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    Quote Originally Posted by Logen Ninefingers View Post
    So how is the 'freemarket' in evidence when we have interest rate suppression by the state & state money printing? I think you have a strange idea of what constitutes a free market. Trust me, that ain't a free market.

    If you want to comment on shares, go comment on shares.
    Because you have access to extra capital to "freely" buy or invest into what you want.
    "Free"market, your risk your reward.

  4. #14
    Senior Member TeslaGod's Avatar
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    Quote Originally Posted by SBQ View Post
    Well said.

    As for TeslaGod. Most people in NZ do not invest in shares or have a clue about it. Instead like yourself, they use houses as a tool for financial gain (without considering who pays for the cost in society). I dunno about you but I don't like to leave people behind just because you can own houses, and your friend can't even own their 1st home.

    If you don't feel that you're a product of the housing problem in NZ, then I would say that's a pretty selfish way of thinking.
    Complaining about housing affordability doesn't buy you a home.

    Figure out how to get a deposit and buy one.

    No excuses.

  5. #15
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    Quote Originally Posted by TeslaGod View Post
    Because you have access to extra capital to "freely" buy or invest into what you want.
    "Free"market, your risk your reward.
    What risk? You are having a laugh surely. You'd be the first person crying for a bail-out!!

  6. #16
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    https://www.stuff.co.nz/business/125...mployment-to-4

    Record drop in unemployment to 4%
    Tom Pullar-Strecker
    10:48, Aug 04 2021

    The unemployment rate has plummeted to 4 per cent, putting more pressure on the Reserve Bank to raise interest rates in a fortnight's time.

  7. #17
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    "Get a deposit, take on a million dollars of debt, then watch as interest rates steadily start to rise. DO IT!!!!" - great advice from the 'risk taker'.

  8. #18
    Senior Member TeslaGod's Avatar
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    Quote Originally Posted by Logen Ninefingers View Post
    "Get a deposit, take on a million dollars of debt, then watch as interest rates steadily start to rise. DO IT!!!!" - great advice from the 'risk taker'.
    Inflation erodes the debt.

  9. #19
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    Heh, heh, all these 'capitalists' talking about how they are 'taking on risk' by going all-in on the property market - and if interest rates start steadily rising and defaults start happening they will be crying for bail-outs!!
    'Risk' means taking on risk i.e. the risk that something won't work out and you will lose.
    Anything else - such as a scenario where you constantly expect the Government & Reserve Bank to come racing to your rescue - is not taking on risk at all.

  10. #20
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    Quote Originally Posted by TeslaGod View Post
    Inflation erodes the debt.
    It was only a few posts back that you told us "As in past historical pandemics deflation follows for the following 20 years."
    Have you changed your mind already ?
    Last edited by stoploss; 04-08-2021 at 11:42 AM. Reason: add quote

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