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  1. #401
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    Henry Wallich

    I like his views, pity he is dead.

    Wallich was known for his strong targeting of inflation, once writing, "Like burglary, inflation is an extralegal form of redistribution, Unfortunately, many economists share with politicians the habit of always regarding inflation as the lesser of any alternative evils."

    Growth is a substitute for equality of income. So long as there is growth there is hope, and that makes large income differentials tolerable. - Henry Wallich

  2. #402
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    https://www.interest.co.nz/news/9154...ehind-why-rbnz

    Interest only is the smart way to go if current economic ideology is successful. Central banks seem set on ensuring debt goes to even higher levels and that currency is devalued and they will suppress interest rates indefinitely. Despite headlines about no/low inflation any home owner or renter knows this is bull****.

    The whole financial system seems wrong to me. Steal from savers to ensure the risk takers aren't actually taking risks. I would have thought interest only was silly/risky in the past but I have been proven wrong time and again.

  3. #403
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    which 2018 competition stocks will inflate or depress in the 2018 competition closing sunday
    Be aware of wizards, for they are subtle and quick to anger.
    that not forbidden is mandatory.
    Anyone but o'brien

  4. #404
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    Good to see bank economists have got their borrowing clients backs at the expense of the clients who lend to them. I am guessing as cash/currency is trashed further and further depositors don't matter anymore. If cheap easy money can be got from world central banks then you don't really need depositors at all. The bank economists want lower interest rates.

    https://www.stuff.co.nz/business/101...-dont-get-that

    Reserve bank requires some proof that cash/currency isn't devaluing at 2% per year before doing so.

    Bank economists are as bad as real estate agents you have to take what they say with a grain of salt. Pity the media gives them such a strong voice.

  5. #405
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    Quote Originally Posted by Aaron View Post
    Bank economists are as bad as real estate agents you have to take what they say with a grain of salt. Pity the media gives them such a strong voice.
    I guess Cameron Bagrie confirms bank economists are cheerleaders for the banks he says he now has an opportunity to debate issues with more freedom and the possibility of commenting on the banking and financial services sector after leaving the bank.

    https://www.stuff.co.nz/business/101...-to-commentary

    I also like his comments on superannuation. The debate died when Jacinda said she liked the idea of "universality" for national superannuation. Sadly any politician with a spine will immediately get voted out by the average joe blogs who appears to let selfish self centred tendencies override common sense. I can see the headlines in a few years when the **** hits the fan. All the same people will blame the stupid incompetent politicians for not having the guts to do something about this issue.

    Sorry may have strayed from inflation deflation debate. Nice to read in the paper this morning that banks are making record profits. I guess they manage that through responsible lending and working smarter. Cheap money and corresponding overinflated asset prices would have nothing to do with it I suppose. An overly financialised economy with ever more debt and lower interest rates to help out overly stretched borrowers. Sounds like a winner.
    http://www.nzherald.co.nz/business/n...ectid=11993668
    Last edited by Aaron; 14-02-2018 at 08:15 AM.

  6. #406
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    Quote Originally Posted by greater fool View Post
    Apropos of nothing in particular have a listen to this.
    https://www.youtube.com/watch?v=-vLi7WjsFWU
    good for the Music thread.
    this is a great song and a good recording too. I remember listening to it back then via a Perreaux PMF2150 and some Acoustat 3's with a Linn Sondek up front. Awesome.
    For clarity, nothing I say is advice....

  7. #407
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    Quote Originally Posted by greater fool View Post
    Apropos of nothing in particular have a listen to this.
    https://www.youtube.com/watch?v=-vLi7WjsFWU
    Talking of reminiscing I watched a show on tv last night called the "eighties" it was about Ronald Regan. Budget deficits, supply side economics, Russian bogeyman, backing freedom fighters in Nicaragua, invading Grenada to help the govt. fight Marxist terrorists. Israeli, palestinian conflict, war in Lebanon. Nothing today is much different.

  8. #408
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    I should stop reading these articles.
    Mike Shedlock thinks the much sought after inflation is screwing the workers.
    https://www.zerohedge.com/news/2018-...rkers-pictures

    Goldman thinks US debt is unsustainable.
    https://www.zerohedge.com/news/2018-...epublic-status

    Some people have said debt is drawing consumption from the future. I guess if it is govt. debt then it is future generations consumption being consumed by the present generation as you have to pay back your personal loans but inflation or someone else will pay back the govt loans. NZ govt. much more responsible than the US so maybe no point in belly aching, although house prices are a symptom of easy money and low interest rates.
    https://www.theguardian.com/money/20...rld-says-study

    Young people earning less in real terms house prices to the moon based on easy money and low interest rates. Admittedly not NZ but we are following a similar path.
    https://www.theguardian.com/society/...n-predecessors

    Will inflation take off with low interest rates held in place by central bankers and take care of all the debt and create a free lunch for everyone with debt.

    We live in interesting times. Inflation or deflation I wish I had some answers, it would help my investing decisions no end. Still being a contrarian with no debt but to no avail. Worried about a monetary crisis but the NZ govt is a lot more responsible than others so should support trust in the $NZ in times of crisis.

    Additional important UK news
    http://www.thedailymash.co.uk/

  9. #409
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    A win for deflation
    https://www.stuff.co.nz/business/102...-now-than-2007
    If people can't afford food or shelter who really cares about phones, computers, internet connections and sky tv subs. we can't eat them and without a house they aren't much use.

  10. #410
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    But data from Stats NZ shows that, with some items, consumers are getting a better deal than they were 10 years ago.

    Things are far more
    disposable and become redundant quickly now though with many appliances, devices also designed with a short lifespan, parts cant be bought, the longevity of an "electrolux vacuum cleaner or PYE tv is replaced by short turnovers of the next best thing which undoubtedly are improved but we may now buy the same device 5 or 6 times the single purchase that it used to be. I was quoted $200( a 5 pack or nothing but still) to buy a simple flat rubber washer for my inbuilt toilet because they quickly replaced the model . Sorry a bit of a rave.

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