Financial Armageddon!!

[PTILoveYou]

In Germany, Sweden and Denmark interest rates for bank deposits are negative. Where will property go?

How is their property market doing? If their real estate in main centres are booming ahead, then this will reflect what will happen in NZ's next property cycle.

Come 2017/18 next recession hits, OCR will get cut, and our interest rates will likely to drop to ~3%.

The thing is, when the bank deposit rate is 0 or negative, this force conservative non-investing people to invest, either in shares/bonds/finance companies/residential & commercial property.

As Tony Alexander has pointed out in his Sporatic report 1 yesterday, investor mind sets will change accordingly, and it will be interesting times ahead.

Basically what Robert Kiyosaki has been saying in the past 20 years is even more true - Savers Will Be Losers!

[PTILoveYou]

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'

Shamubeel needs to grow up, get out of his fancy desk, and be more street smart.

If he thinks real estate is not worth investing now, he will not afford it in 10 years time when he's in his 40s.

[donthatetheplayer]

Auckland market 'ponzi scheme' - economist


I read the headline and thought "Shamubeel Eaqub"... Sure enough!

I wish I had the time to write a spoof article about how gutted Sham is that he didn't buy into Auckland a few years ago. Who's got time? I'll start:

"Eaqub now rents in Auckland, after returning from Wellington late last year, because he says it's cheaper. But says he will buy at some stage. He goes onto to say how gutted he is that he didn't buy a few years ago but he was too busy writing articles trying to talk down property prices so he could get in at a low point. He says he now knows this strategy was not a good one. "I did get my name out there in the media a lot though" he says. "Many people know who I am now. I think it will be good for me in the long run when I enter politics with the new socialist party I am launching soon."

He and wife Selena are expecting their first baby next month. He has never ruled out buying, but says it has made little finance sense perhaps when he is in his 40s. Even with his good salary and alternative investments Eaqub says it will take him at least this long to save a deposit for a reasonably affordable home in the suburb he is now looking at seriously - Otara."

[PTILoveYou]

"He goes onto to say how gutted he is that he didn't buy a few years ago but he was too busy writing articles trying to talk down property prices so he could get in at a low point. He says he now knows this strategy was not a good one. "I did get my name out there in the media a lot though" he says. "Many people know who I am now. I think it will be good for me in the long run when I enter politics with the new socialist party I am launching soon."

He and wife Selena are expecting their first baby next month. He has never ruled out buying, but says it has made little finance sense perhaps when he is in his 40s. Even with his good salary and alternative investments Eaqub says it will take him at least this long to save a deposit for a reasonably affordable home in the suburb he is now looking at seriously - Otara."

The kid is an amateur isn't he?

There is good publicity, and there is bad ones.

Just get your name out there doesn't mean it is good. It can be bad as well, ie Dotcom

Also politics requires money. Either his money (which he doesn't have much), or he needs convince others to donate (yeah right good luck with that!)


Before he gets street smart he should really just focus on his job as an economist and stop thinking about diworsification into ponzi schemes like being a politician.

[donthatetheplayer]

Gary - Gotcha!

[PTILoveYou]

The guy clearly has ego issues.

He knows deep down he's wrong about property investment, but he's a guy with an ego, and won't admit he's wrong.

Dude, just listen to your wife and buy your home, NOW!

[genius]

If I had listened to him in 2012 when I started my property portfolio, I would have been SOOOOO much poorer!!! (probably suicidal too lol)
I never knew economists could be such idiots until I read his columns :P

[PTILoveYou]

If I had listened to him in 2012 when I started my property portfolio, I would have been SOOOOO much poorer!!! (probably suicidal too lol)
I never knew economists could be such idiots until I read his columns :P

The only non-idiot economist in this country is Tony Alexander, so yeah...

[donthatetheplayer]

Tony Alexander is good.

[Wayne]

Cameron Bargie from ANZ is good too.
You don't hear much from him as he isn't there to pump himself up.

[Damap]

Rodney is good, Tony and the other bank economists have a long history of getting things wrong...

[donthatetheplayer]

Yes but Tony admits it when he does.

[PTILoveYou]

Rodney is good, Tony and the other bank economists have a long history of getting things wrong...

Olly gets it wrong too.

No one gets it right all the time, but the ones that admit they got it wrong are the ones worthy of respect =)

[Wayne]

Yes but Tony admits it when he does.

And the last talk I heard from Cameron he started out saying that economists really don't know it all and if they say they do they are lying.

[Damap]

So therefore ignore them?