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Financial Armageddon!!

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  • Originally posted by Davo36 View Post
    Oh ok, I know who you are now.


    • The reincarnation of David Koresh?


      • Well I won't 'out' Damap here. Because then he'll 'out' me!

        And pretty much everyone remains anonymous on here.
        Squadly dinky do!


        • Apparently now we are a threat to the financial stability of NZ:


          Next they'll be calling us devil spawn.
          Squadly dinky do!


          • Punish tenants so the rich Australian banks don't get themselves into trouble.
            Won't worry Chinese buyers one little bit.

            Looking forward to some more rent rises.
            The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.


            • Originally posted by PC View Post
              Won't worry Chinese buyers one little bit.
              You're right there.
              These moves have the potential to force a number of kiwi investors to rethink future borrowings / purchases.
              Never mind; the Govt is happy for foreigners to take their place.
              Last edited by speights boy; 06-03-2015, 08:00 AM.


              • Originally posted by Davo36 View Post
                Next they'll be calling us devil spawn.
                They've been calling us that for a while now!


                • Originally posted by PC View Post
                  Won't worry Chinese buyers one little bit.
                  That's fine by the RB - they aren't charged with keeping house prices in check - they are charged with financial stability.
                  If you don't borrow from the bank then you aren't a threat to the bank stability.


                  • Meanwhile, in Hawke's Bay . . .

                    First-home buyers driving up values
                    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!


                    • Interesting comment
                      Mr Whitaker said the market was already improving and more houses were selling at market value.
                      What other value would they sell at?


                      • global banks

                        now so tied up in so many regulations

                        they're stopped making profits

                        and should be split up?

                        many banks have found the idea of spanning the world deeply alluring.

                        In practice, however, they have been a nightmare to run.

                        Their sprawl remains vast. Citi is in 101 countries, employs 241,000 people and has over 10,000 properties.

                        Talk of global best practice is hollow, given the misdemeanours that banks have been accused of facilitating, including money-laundering in Mexico (HSBC and Citigroup) and breaking sanctions (Standard Chartered and BNP Paribas).

                        No boss but Jamie Dimon of JPMorgan Chase gives a convincing impression of being in full control

                        —and even he suffered a $6 billion trading loss in 2012.

                        Investors are asking if the costs of their global spread outweigh the benefits.

                        If the likes of Citi and HSBC don’t buck up soon, they will be dismembered

                        —not by regulators, but by their shareholders


                        no problem here

                        too big to fail

                        means too big to engage in risky activity

                        no more lehman bros. with 45:1 leverage
                        Last edited by eri; 11-03-2015, 03:51 PM.
                        have you defeated them?
                        your demons


                        • interesting

                          the normally sensible dutch

                          angry at their centrist grand-coalition gov. because of austerity + high taxes

                          have voted for 10 other centrist parties

                          that generally agree, except when they contradict

                          This splintering of the senate may make it impossible for the centrist government to get anything done.

                          Like voters across much of Europe, the Dutch are turning away from the traditional parties of power, and creating an ever more complicated political landscape.

                          The Dutch case is especially confusing because, while voters have turned against the government, they have not actually turned to the right or left.

                          The next big step on the government’s agenda is tax reform.

                          Labour and the Liberals both want to reward work by cutting the Netherlands' high income tax rates,

                          which currently reach 42% for those earning €33,589 ($35,922) per year, and 52% for those making €57,585 or more.

                          But it is hard to see how the government can put together a majority in the senate.

                          Much of the voters’ frustration stems from austerity measures the government has enacted over the past two years, such as cuts in health benefits and hikes in excise taxes.

                          But the elections have actually strengthened the political forces demanding austerity.

                          have you defeated them?
                          your demons


                          • stagnation

                            low demand, low inflation

                            hard for companies to grow, hard to pay workers more, hard to raise taxes

                            here for a long time?

                            Secular stagnation
                            ...... It describes a world in which there are lots of savings and comparatively few attractive places to invest them.

                            ....ageing societies of the rich world want

                            - rapid income growth
                            - low inflation
                            - a decent return on safe investments
                            - limited redistribution
                            - low levels of immigration.

                            Well you can't have all of that.

                            And what they have decided is that what they're prepared to sacrifice is the rapid income growth.

                            In aggregate that decision looks somewhat reasonable if not entirely right.

                            But it is a choice with pretty significant distributional consequences.

                            And the second era of secular stagnation will come to an end when political and demographic shifts allow the losers from this arrangement to say: enough.

                            have you defeated them?
                            your demons


                            • Big thing will be interest rates, at some point within 2-3 years we will HAVE to cut them again, would be interested to hear everyone's strategy. Borrow more, less? Pay off more debt, box with caution? The world is in some serious crap if they have to cut rates again and again, not much room to go till zero, deflation and then a depression. In Germany, Sweden and Denmark interest rates for bank deposits are negative. Where will property go?


                              • Dear property investors, please stop fooling with ponzi scheme in Auckland property market.

                                For goodness sake, our NZ 'top' economist Shamubeel wanted to buy house in Auckland...

                                Property: Auckland market 'ponzi scheme'