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  • #76
    What it means is that nanny state does not think we are big enough boys and girls to have fun in the sand pit by ourselves. Post 1987 when ever there is any possibility we might really ramp up the economy eg Us style 4.5% or heven forbid Chinese 9% along come the state to remind us that we are only KIWI's so we cannot fly like EAGLES.

    This really makes me grumpy. Is it not better to fly high have a bit of a crash and still be at a higher level than when you started, rather than good old New Zealand guarenteed not to crash but the price is slow insipid pathetic downtrodden people who when ever they want to go for it get stomped on again. Capitalism is all about creative destruction, coonficence grows , oversupply/underconsumption occurs, we crash, learn and go forth with renewed confidence. Is it not time we celebrated success and admired our millionaires (after all that why we are doing what we are doing) rather than slamming them down as usual. Boy I must be grumpy! And it's not any particular political party its every one.

    Better to fly and flame out than live your life grubbing around on the forest floor for insects fertilised by all those eagle droppings.

    Comment


    • #77
      Originally posted by murray-spi-investments
      Is it not time we celebrated success and admired our millionaires (after all that why we are doing what we are doing)
      I suppose it depends what your measure of success is.
      I kinda like the Kiwi measure, the "good bloke" measure.
      I hope we never aspire to be like the US, with their $ measure.
      Find The Trend Whose Premise Is False - Then Bet Against It

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      • #78
        Is it not better to fly high have a bit of a crash
        It's OK provided you are cashed4crash :twisted:
        Until everyone notices that the emperor has no clothes, I will remain Cashed4crash

        Comment


        • #79
          Originally posted by Gatekeeper
          I hope we never aspire to be like the US, with their $ measure.
          In my humble opinion, there is at least one thing in common between the US and us - about 4% of GDP in curent account deficit. We have been living on borrowed money for a long long time, since the 70s.

          Comment


          • #80
            When the Labour Govt is in power they try and copy stalinism. (like encouraging everyone to live in South Auckland by pumping heaps of money in there) When the Nats are in they sometimes try and copy paper dictators. (like regulating everything that is not dead)

            Neither do it very well and we have to get by as bet we can in the middle periods when the Govt is tring to figure out what to do.

            Hows that for a radical view point.

            Yep cashed up circling like a vulture waiting for the kill.
            with my poor eyesight I am having difficulty seeing anything at the moment. Waiting for a bit of movement or last struggles of death like a mortgage sale.

            Glenn

            Comment


            • #81
              LOL Glenn. I'm feeling much better now - thanks . I must remember I have managed to make a lot in the past 10 or so yrs so I suppose if I can some how manage to combine cash4crash and gatekeepers ideas things should go well in the future. Thanks folks

              Comment


              • #82
                It's the sizzle that matters not the steak.
                Governments and RB governers can threaten loud enough and the punters will take fright.
                Enough may have been done already to slow things down.
                One thing is for certain. Devious RE agents will try any and every trick to get their commissions.
                Roll on a few mortgagee sales and a little bit of cash flow difficulty from drop off in renters and the trickle will become a cascade and then a torrent.
                Until everyone notices that the emperor has no clothes, I will remain Cashed4crash

                Comment


                • #83
                  Price fall = renter buys house = house without renter = price reduction = another renter buys house = another house empty and so on and so on until only the real investors are left.
                  Until everyone notices that the emperor has no clothes, I will remain Cashed4crash

                  Comment


                  • #84
                    Hi Guys

                    ASB has got into the act as well. Read on:

                    ASB Bank is lifting floating mortgage rates to 8 per cent, but is undercutting Westpac Bank, which moved rates up to 8.1 per cent on Thursday night.


                    ASB Bank said yesterday that its floating rate would rise from 7.75 per cent to 8 per cent.

                    However, almost all the big banks have been quietly lifting fixed-term rates in the past month, by up to half a per cent, without public announcements.

                    In the past month, 13 of the 18 banks surveyed by the Real Estate Institute increased some fixed-term rates, with one- and three-year rates expected to rise toward 8 per cent in coming months.

                    A smaller group - Axa, HSBC, Kiwibank, National Bank and Westpac - increased all fixed rates for six months to five-year terms.
                    Regards
                    "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

                    Comment


                    • #85
                      News Release -
                      Bank of England Raises Interest Rates by 0.25 Percentage Points to 4.5%

                      10 June 2004
                      Until everyone notices that the emperor has no clothes, I will remain Cashed4crash

                      Comment


                      • #86
                        Originally posted by cashed4crash
                        News Release -
                        Bank of England Raises Interest Rates by 0.25 Percentage Points to 4.5%

                        10 June 2004
                        And the Fed just keeps threatening
                        Find The Trend Whose Premise Is False - Then Bet Against It

                        Comment


                        • #87
                          Hi Guys

                          ANZ and NAB have raised all fixed rates this morning.

                          Regards
                          "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

                          Comment


                          • #88
                            Hi Guys

                            BNZ have raised their fixed rates to the same rate as Westpac.
                            Mike Pero and Mortgagenet have raised their rates`as well.
                            90 Day Bank Bills continue to increase quietly as well.

                            Regards
                            "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

                            Comment


                            • #89
                              Hi Guys

                              Well what do you know..... NONE of the major banks have moved their interest rates this week.

                              Everybody appears to be waiting and watching.

                              Regards
                              "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

                              Comment


                              • #90
                                Up 25 basis points again, with more to come.

                                Interest Rates Hiked Again
                                29/07/2004 10:09 AM Reuters

                                http://xtramsn.co.nz/money/0,,5483-3548940,00.html

                                The Reserve Bank of New Zealand raised its official cash rate by a quarter of a percentage point and said further rate rises looked likely to hold down inflation.

                                The central bank increased its official cash rate to 6.0 percent - its highest level since April 2001 - extending New Zealand's margin over the rest of the developed world. It has raised interest rates four times this year by a total of 1 percentage point.

                                New Zealand's cash rate compares with official rates of 5.25 in Australia, 1.25 percent in the United States and 2 percent in the euro zone.

                                The central bank said the economy was buoyant, putting a strain on resources and causing inflation pressures.

                                "The actual decision was widely expected, no surprises there. A very hawkish statement, with more interest rate (hikes) likely," ANZ Bank Chief Economist John McDermott said.

                                "It looks like they'll move again in September, and again in October, so there's a significant risk they're targeting 6.50 percent for the cash rate."

                                All 14 economists polled by Reuters had forecast a 25 basis point rise for the benchmark rate. The median expectation was for the cash rate to be held at 6 percent for the rest of the year.

                                The New Zealand dollar rose to $0.6306/16 from $0.6289/99 before the decision. Bank bill futures were sold off with the September contract 5 ticks lower at 93.57, and the December contract off 7 at 93.47.

                                Inflation Pressures

                                The Reserve Bank said the New Zealand economy was showing some signs of slowing down.

                                But inflationary pressures persisted because of the strain on resources from the stronger than expected economy.

                                Second-quarter consumer prices were up 2.4 percent from a year earlier, showing the highest inflation rate since early 2003.

                                "It appears that current economic strength may be maintained for longer than we anticipated in June and it could add to price pressures," Governor Alan Bollard said in a statement.

                                "Further tightening of monetary policy looks likely to be necessary."

                                Since the bank's June 10 monetary policy statement, economic signals have been mixed.

                                Business and consumer confidence has improved, the economy has been estimated as running at near full capacity, and commodity prices have been strong.

                                Gross domestic product rose 2.3 percent in the first quarter on the previous quarter, to be 5.0 percent higher than a year earlier.

                                On the other hand, house sales, migration and retail sales have all fallen.

                                However, exporters were benefiting from higher commodity prices and incomes, despite the volatility and strength in the New Zealand dollar, Bollard said.

                                The kiwi, whose strength had previously kept a dampener on imported inflation, has pulled back from a near seven-year high around $0.71 in mid-February.

                                But the trade-weighted index of the currency's value remains about 1 percent above the average level of 63.5 that the central bank has forecast for the second half.
                                Find The Trend Whose Premise Is False - Then Bet Against It

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